Schmidheiny, KurtBrülhart, Marius2017-10-242017-10-242009https://hdl.handle.net/2445/116970It 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.25 p.application/pdfengcc-by-nc-nd, (c) Schmidheiny et al., 2009http://creativecommons.org/licenses/by-nc-nd/3.0/es/Localització industrialEmpirismeAnàlisi de regressióIndustrial locationEmpiricismRegression analysisinfo:eu-repo/semantics/workingPaperinfo:eu-repo/semantics/openAccess