diff --git a/Week 3- Statistical Demand Models/multinomial_choice1.tex b/Week 3- Statistical Demand Models/multinomial_choice1.tex index 90484dc..ad5bbec 100644 --- a/Week 3- Statistical Demand Models/multinomial_choice1.tex +++ b/Week 3- Statistical Demand Models/multinomial_choice1.tex @@ -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}