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Persistent link: https://www.econbiz.de/10012500412
This paper proposes a simple solution to the independence of irrelevant alternatives (IIA) problem in Choo and Siow (2006) model, overcoming what is probably the main limitation of this approach. The solution consists of assuming match-specific rather than choice-specific random preferences. The...
Persistent link: https://www.econbiz.de/10012149406