Error Theory for Elimination by Aspects
Coauthor(s): Kamel Jedidi.
Elimination by aspects (EBA) is a random utility model that is considered to represent the choice process used by consumers more faithfully than logit and probit models. One limitation of the model is that it does not have a known error theory. We show that EBA can be derived by assuming that aspects have random utilities with independent, extreme value distributions. Multinomial logit and rank-ordered logit models are special cases of EBA.
Source: Operations Research
Kohli, Rajeev, and Kamel Jedidi. "Error Theory for Elimination by Aspects." Operations Research 63, no. 3 (2015): 512-526.