A micro foundation for discrete choice models with multiple categories of goods
A micro foundation for discrete choice models with multiple categories of goods
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DOI：
10.1016/j.jocm.2016.07.002
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发表时间：
2016-06
影响因子：
2.4
通讯作者：
Yukihiro Kidokoro
中科院分区：
文献类型：
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作者：
Yukihiro Kidokoro
离散选择模型非常适合描述消费者的选择。然而，传统的离散选择模型偏离标准的效用最大化模型在两个重要方面。首先，在典型的离散选择模型中，选择集的总需求是外生固定的。其次，传统的离散选择模型在描述多类商品之间的无限制替代或互补关系方面能力有限。两者都表明，传统的离散选择模型对应于一个特殊的效用最大化问题，我们可以发展到将内生变化的总需求的选择集和多个类别的商品在一个不受限制的方式。本文的目的是澄清这种离散选择模型的理论基础，在标准的确定性效用最大化的背景下，推导出隐含的需求函数的弹性，并获得福利变化的计算方法。本文中的框架是最有用的考虑跨类别的互补关系，这通常是棘手的传统离散选择模型中没有限制性的假设。分析表明，离散选择模型的结果是完全符合标准的确定性效用最大化，即使对一个选择集的总需求的变化是内生的，或与多个类别的商品。因此，离散选择模型本质上更适用于更广泛的消费者选择。
Discrete choice models are well suited to describing consumer choice. However, conventional discrete choice models depart from standard utility maximization models in two important respects. First, in typical discrete choice models, the total demand for a choice set is exogenously fixed. Second, conventional discrete choice models have a limited ability to describe the unrestricted substitutionary or complementary relationships between multiple categories of goods. Both suggest that conventional discrete choice models correspond to a special utility maximization problem that we can develop to incorporate endogenous change in the total demand for a choice set and multiple categories of goods in an unrestrictive way. The purpose of this paper is to clarify the theoretical foundation of such discrete choice models in the context of standard deterministic utility maximization, derive the elasticities of the implied demand functions, and obtain a method for the calculation of welfare change. The framework in this paper is most useful for considering complementary relationships across categories, which is generally intractable in conventional discrete choice models in the absence of restrictive assumptions. The analysis demonstrates that the results of discrete choice models are perfectly consistent with standard deterministic utility maximization, even if the total demand for a choice set changes endogenously or with multiple categories of goods. Thus, discrete choice models are intrinsically more applicable across a much broader range of consumer choices.