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24 mai 2013
- handle: 10670/1.bzk2eh
- halshs: halshs-00825656
info:eu-repo/semantics/OpenAccess
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André de Palma et al., « Best and worst choices », HAL-SHS : économie et finance, ID : 10670/1.bzk2eh
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We show that the number of individuals selecting their worst alternatives within a finite set of alternatives can be written as an alternating sum of the number of individuals having their best choice within subset of alternatives. The identities are then applied to random utility models, including the multinomial logit model, the mixed logit model and the disaggregated version of the CES representative consumer model. Finally, we show that better estimates are obtained if respondents are asked to reveal their worst instead of their best choices.