Utility maximization and mode of payment

R.H. Koning, G. Ridder

Research output: Chapter in Book/Report/Conference proceedingChapterAcademicpeer-review


The implications of stochastic utility maximization in a model of choice of payment are examined. Three types of compatibility with utility maximization are distinguished: global compatibility, local compatibility on an interval, and local compatibility on a finite set of points. Keywords: Stochastic utility maximization, discrete choice models, nested multinomial logit model
Original languageEnglish
Title of host publicationInnovations in multivariate statistical analysis
EditorsR.D.H. Heijmans, D.S.G. Pollock, A. Satorra
Place of PublicationDordrecht/Boston/London
PublisherKluwer Academic Publishers
Pages117 - 136
Number of pages20
Publication statusPublished - 2000

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