Delle Site, Paolo; Salucci, Marco Valerio - In: Economics Letters 126 (2015) C, pp. 135-139
We consider the widely used multinomial logit model with i.i.d. Gumbel random terms. Transition choice probabilities, i.e. probabilities of choosing alternative i in the first choice and alternative j in the second, are available in analytic form in the two extreme cases where the random terms...