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STOCHASTIC EQUILIBRIUM CONCEPTS IN ADDITIVE RANDOM UTILITY MODELS
Author(s) -
Eriksson Erik Anders,
Lindberg Per Olov
Publication year - 1989
Publication title -
papers in regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.937
H-Index - 64
eISSN - 1435-5957
pISSN - 1056-8190
DOI - 10.1111/j.1435-5597.1989.tb01175.x
Subject(s) - thurstone scale , uniqueness , mathematical economics , economics , work (physics) , mathematics , econometrics , mathematical optimization , microeconomics , computer science , statistics , engineering , mechanical engineering , mathematical analysis
This paper deals with markets where inherently discrete goods are offered, for example, housing, work‐places or modes of transportation, Consumer choice behaviour may be modelled by the additive random utility, or the generalised Thurstone, model. In this setting we discuss the usefulness and analytical tractability (existence and uniqueness) of some types of stochastic equilibrium.