Published December 2012
| public
Journal Article
A representative consumer theorem for discrete choice models in networked markets
- Creators
- Melo, Emerson
Abstract
We provide an alternative way to model sequential decision processes, which is consistent with the random utility maximization hypothesis and the existence of a representative agent. Our result is stated on terms of a direct utility representation, and it does not depend on parametric assumptions.
Additional Information
© 2012 Elsevier B.V. Received 8 June 2012; Received in revised form 22 August 2012; Accepted 7 September 2012; Available online 19 September 2012. I warmly thank Simon Anderson, Federico Echenique, Bob Sherman, Matt Shum, and Erik Snowberg for comments about the problem that we analyze in this paper. I also acknowledge comments from participants in the California Econometrics Conference 2011, and an anonymous referee for constructive suggestions that helped to improve the final presentation of the paper.Additional details
- Eprint ID
- 36289
- Resolver ID
- CaltechAUTHORS:20130110-083756061
- Created
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2013-01-11Created from EPrint's datestamp field
- Updated
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2021-11-09Created from EPrint's last_modified field