Solving Share Equations in Logit Models Using the LambertW Function

@inproceedings{Aravindakshan2011SolvingSE,
  title={Solving Share Equations in Logit Models Using the LambertW Function},
  author={Ashwin Aravindakshan and Brian T. Ratchford},
  year={2011}
}
Though individual demand and supply equations can readily be expressed in logit models, closed-form solutions for equilibrium shares and prices are intractable due to the presence of products of polynomial and exponential terms. This hinders the employment of logit models in theoretical studies, and also makes it difficult to develop reduced-form expressions for share and price as a function of exogenous variables for use in empirical studies. In this paper we propose that a mathematical… CONTINUE READING
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