A characterization of the Luce choice rule for an arbitrary collection of menus

• 成果类型: Article
• 署名作者: Alos-Ferrer, Carlos; Mihm, Maximilian
• 署名单位: Lancaster University; New York University; New York University Abu Dhabi
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2024.105941
• 发表日期: 2025
• 关键词: Luce choice rule; Multinomial logit model; stochastic choice; Censored Luce choice rule

摘要

The Luce Choice Rule (or, equivalently, the multinomial logit model) is extensively used in economics and other fields. Classical characterizations rest on Luce's Choice Axiom, when all choice sets are available, and Luce's Product Rule in the case of binary choice. Yet, actual datasets typically consist neither of all choice sets nor all binary choice sets. We provide a characterization for the general case, allowing also for zero choice probabilities. Building upon this characterization, we derive implications for experimental design in terms of three criteria: falsification, identification, and prediction.