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on Discrete Choice Models |
| By: | Mogens Fosgerau; Emerson Melo; Andre de Palma; Matthew Shum |
| Abstract: | This paper establishes a general equivalence between discrete choice and rational inattention models. Matejka and McKay (2015, AER) showed that when information costs are modelled using the Shannon entropy function, the resulting choice probabilities in the rational inattention model take the multinomial logit form. By exploiting convex-analytic properties of the discrete choice model, we show that when information costs are modelled using a class of generalized entropy functions, the choice probabilities in any rational inattention model are observationally equivalent to some additive random utility discrete choice model and vice versa. Thus any additive random utility model can be given an interpretation in terms of boundedly rational behavior. This includes empirically relevant specifications such as the probit and nested logit models. |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1709.09117&r=dcm |
| By: | Yongyou Nie (School of Economics, Shanghai University, China); Enci Wang (School of Economics, Shanghai University, China); Qinxin Guo (Graduate School of Economics, Kobe University, Japan); Junyi Shen (Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan, and School of Economics, Shanghai University, China) |
| Abstract: | In this study, we conducted a stated choice survey in Shanghai to examine the attitudes of Shanghai residents towards electric vehicles and their attributes. Multinomial Logit and Random Parameter Logit models were used to analyze the response data for three samples—the full sample, a subsample of potential electric vehicle purchasers, and a subsample of unlikely electric vehicle purchasers. We found that the respondents in each of the three groups preferred electric vehicles with a longer driving range, a shorter charging time, a faster maximum speed, lower pollution emissions, lower fuel cost, and a lower price. However, a comparison of the two subsamples showed that potential electric vehicle purchasers were willing to pay more than their counterparts for enhancing vehicle attributes. We also investigated the determinants of likely electric vehicle purchase and found a number of demographic characteristics that were statistically significant. |
| Keywords: | Keywords: Electric vehicles, Preferences, Stated choice experiment, Willingness to pay, Random Parameter Logit Model |
| JEL: | Q42 Q51 |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:kob:dpaper:dp2017-21&r=dcm |
| By: | Weber, Enzo (Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]); Zimmert, Franziska (Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]) |
| Abstract: | "Studies on labor supply have increasingly taken account of not only the actual working hours, but also of working hour preferences as well as the discrepancy between them. However, longitudinal research on this topic remains scarce. This paper contributes to the analysis of working hour discrepancies by exploring how hours mismatch emerges and resolves with special consideration of the household context. We use a rich longitudinal data set, the German Socio-economic panel (GSOEP), for a discrete duration analysis applying a fixed effects-logit estimator. With special consideration of the household context, the findings suggest that female underemployment is strongly related to household responsibilities impeding the mismatch resolution. On the contrary, the creation of female overemployment is linked to higher qualification and job autonomy. In those positions working hour discrepancies also turn out to be persistent. Male hour constraints can be associated to job positions in a similar way. Nevertheless, the results also show that household responsibilities are less important for both male under- and overemployed." (Author's abstract, IAB-Doku) ((en)) |
| JEL: | J21 J22 C23 C41 |
| Date: | 2017–09–19 |
| URL: | http://d.repec.org/n?u=RePEc:iab:iabdpa:201729&r=dcm |