Econometrica Vol. 52 No. 3 1984
Discrete/Continuous Models of Consumer Demand
Abstract
[This paper develops a unified framework for formulating econometric models of discrete/continuous consumer choices in which the discrete and continuous choices both flow from the same underlying (random) utility maximization decision. As a special case a number of models suitable for empirical application are developed where the discrete choice is among different brands of a commodity. Since these brands are essentially substitutes, the consumer prefers to buy only one brand at any time; discrete choice is which brand to select and the continuous choice is how many units to buy.]
- DOI
- 10.2307/1913464
- Volume
- 52
- Issue
- 3
- Pages
- 541
- Sources
- bibtex:phds-export.bib crossref openalex