Julien Monardo, Mogens Fosgerau, André de Palma · 2026 · arXiv (Cornell University)
DOI: 10.48550/arxiv.2610.10069 · cited by 0 works (OpenAlex) · open-access PDF
We introduce a class of demand models for market-level data. The models can be estimated by linear instrumental variables regression while accommodating substitution patterns far richer than the logit and nested logit models they embed. They are built from closed-form inverse market share functions through a generator analogous to McFadden's generalized extreme value generating function, but acting on market shares. Constructive results allow arbitrary nesting structures, including overlapping nests and partial membership, yielding inverse-share analogs of generalized extreme value models. The class is consistent with utility maximization and strictly larger than the class of regular additive random utility models.
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Topics: Utility maximization, Class (philosophy), Mathematics, Mixed logit, Econometrics, Discrete choice
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