The continuous generalized extreme value model with special reference to static models of labor supply
Working paper
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Date
1988-02Metadata
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- Discussion Papers [1002]
Abstract
The paper extends the generalized extreme value random utility model (McFadden, 1981) to the case where the choice set is continuous. One particular area of application is treated, namely the static models of labor supply. The continuous Luce model as well as several standard models that appear in the consumer demand literature emerge as special cases. The paper also provides theoretical assumptions that justify the stochastic properties of the model.