计量经济分析（第六版）答案 Notes-25.docxVIP

Econometrics IProfessor William GreeneNotes 25. Discrete Choice, Duration and Censoring Discrete Choice Among Multiple Alternatives Random Utility Model U(i,j) = Px(iJ) + 8(ij) The Independent Utilities Extreme Value - Multinomial Logit Model s(i,j)?exp(-exp(8(i,j))), all independent Leads to Prob[ individual i makes choice j] = Prob[ U(i,j) u(i,k) for all k not j] exp[px(z;y)] exptp^Cz,；)] exp[p,x(z,y)] 1)= = - exp[P*x(zJ)] exp logexp[Bx(i,攵)]]exp]/V] IV 二 inclusive value = LogSum” Used as a measure of consumer surplus Estimated by maximum likelihood: LogL = S, log Prob [actual outcomes]