Logit, CES, and rational inattention

DOI10.1016/J.ECONLET.2019.108537MaRDI QIDQ2292743zbMATH OpenOpenAlexFDO

Authors Andrei Matveenko

Publication date 5 February 2020

Published in Economics Letters (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1016/j.econlet.2019.108537

zbMATH Keywords

CES utility functiondemand systemdiscrete choicemultinomial logitrational inattentionrepresentative consumer

Mathematics Subject Classification ID

Utility theory (91B16) Consumer behavior, demand theory (91B42)

Recommendations

• A Representative Consumer Theory of the Logit Model
• DISCRETE CHOICE AND RATIONAL INATTENTION: A GENERAL EQUIVALENCE RESULT
• Stochastic choice and consideration sets
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• Dogit model and rational inattention

Cites work

• Knowing What Others Know: Coordination Motives in Information Acquisition
• Rigid pricing and rationally inattentive consumer
• Strategic pricing with rational inattention to quality
• The CES is a discrete choice model?
• Welfare evaluation in a heterogeneous agent model: how representative is the CES representative consumer?

Cited in

(5)

• Dogit model and rational inattention
• A Representative Consumer Theory of the Logit Model
• DISCRETE CHOICE AND RATIONAL INATTENTION: A GENERAL EQUIVALENCE RESULT
• Generalized logit dynamics based on rational logit functions
• Just-noticeable difference as a behavioural foundation of the critical cost-efficiency index

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