Parameter estimates from the choice model identify consumer utility, or marginal utilities in the case of a linear utility function. Utility is the level of satisfaction consumers receive from products with specific attributes and is determined from the parameter estimates in the model.
Let X[k] represent a subject attribute design row, with intercept
Let Z[j] represent a choice attribute design row, without intercept
Then, the probability of a given choice for the k'th subject to the j'th choice of m choices is:
is the Kronecker row-wise product
the numerator calculates for the j'th alternative actually chosen
the denominator sums over the m choices presented to the subject for that trial