Large deviations and multinomial probit choice
نویسندگان
چکیده
منابع مشابه
Large deviations and multinomial probit choice
We consider a discrete choice model in which the payoffs to each of an agent’s n actions are subjected to the average of m i.i.d. shocks, and use tools from large deviations theory to characterize the rate of decay of the probability of choosing a given suboptimal action as m approaches infinity. Our model includes the multinomial probit model of Myatt and Wallace (2003) as a special case. We s...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2011
ISSN: 0022-0531
DOI: 10.1016/j.jet.2011.06.013