Monday, March 5, 2018 at 4:15pm
Uris Hall, 498
Kota Saito - Caltech
Axiomatization of Mixed Logit Model
Abstract: A mixed logit function, also known as a random-coefficients logit function, is an integral of logit functions. The mixed logit model is one of the most widely used models in the analysis of discrete choice. Observed behavior is described by a random choice function, which associates with each choice set a probability measure over the choice set. I obtain necessary and sufficient conditions under which a random choice function becomes a mixed logit function.