Generalized logit model

The logit model is the simplest and best-known probabilistic choice model. Nevertheless according to the deficient flexibility there are problems of making use of the multinomial logit model. In this paper a generalized logit model, which is essentially more flexible than the traditional multinomial logit model, is presented. Furthermore, the usual model choice models are compared in respect to their flexibility. This is done by calculating the partial derivatives of the choice probability functions at a fixed point. The generalized logit model shows the same flexibility (in a precise sense) as the probit model, but is much more tractable. At the end of this paper an example is set to show the differences in the functional forms between the new model and the traditional models (logit and probit).