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Update multinomial_choice1.tex #16

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2 changes: 1 addition & 1 deletion Week 3- Statistical Demand Models/multinomial_choice1.tex
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Expand Up @@ -62,7 +62,7 @@
There are some choices that make our life easier
\begin{itemize}
\item Multivariate normal: $\varepsilon_i \sim N(0,\Omega)$. $\longrightarrow$ \alert{ multinomial probit}.
\item Gumbel/Type 1 EV: $f(\varepsilon_i) = e^{-\varepsilon_{ij}} e^{-e^{-\varepsilon_{ij}}} $ and $F(\varepsilon_i) = 1- e^{-e^{-\varepsilon_{ij}}}$ $\longrightarrow$ \alert{multinomial logit}
\item Gumbel/Type 1 EV: $f(\varepsilon_j) = e^{-\varepsilon_{ij}} e^{-e^{-\varepsilon_{ij}}} $ and $F(\varepsilon_j) = 1- e^{-e^{-\varepsilon_{ij}}}$ $\longrightarrow$ \alert{multinomial logit}
\item There are also heteroskedastic variants of the Type I EV/ Logit framework.
\end{itemize}
\end{frame}
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