English, Article, Journal or magazine article edition: On the Equivalence of Location Choice Models: Conditional Logit, Nested Logit and Poisson Brülhart, Marius; Schmidheiny, Kurt

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Bookmark: http://trove.nla.gov.au/version/209248
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • On the Equivalence of Location Choice Models: Conditional Logit, Nested Logit and Poisson
Author
  • Brülhart, Marius
  • Schmidheiny, Kurt
Physical Description
  • preprint
Notes
  • It is well understood that the two most popular empirical models of location choice - conditional logit and Poisson - return identical coefficient estimates when the regressors are not individual specific. We show that these two models differ starkly in terms of their implied predictions. The conditional logit model represents a zero-sum world, in which one region's gain is the other regions' loss. In contrast, the Poisson model implies a positive-sum economy, in which one region's gain is no other region's loss. We also show that all intermediate cases can be represented as a nested logit model with a single outside option. The nested logit turns out to be a linear combination of the conditional logit and Poisson models. Conditional logit and Poisson elasticities mark the polar cases and can therefore serve as boundary values in applied research.
  • conditional logit; firm location; nested logit; Poisson count model; residential choice
  • RePEc:cpr:ceprdp:7379
Language
  • English
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