Estimation of discrete choice models including socio-economic explanatory variables PDF Download
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Author: Gerd Ronning
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Book Description
Author: Gerd Ronning
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
Get Book Here
Book Description
Author: David A. Hensher
Publisher: Routledge
ISBN: 1351140744
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
Originally published in 1981. Discrete-choice modelling is an area of econometrics where significant advances have been made at the research level. This book presents an overview of these advances, explaining the theory underlying the model, and explores its various applications. It shows how operational choice models can be used, and how they are particularly useful for a better understanding of consumer demand theory. It discusses particular problems connected with the model and its use, and reports on the authors’ own empirical research. This is a comprehensive survey of research developments in discrete choice modelling and its applications.
Author: Kenneth Train
Publisher: Cambridge University Press
ISBN: 0521766559
Category : Business & Economics
Languages : en
Pages : 399
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Book Description
This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.
Author: Kenneth Train
Publisher: Cambridge University Press
ISBN: 9780521017152
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
Table of contents
Author: Stephane Hess
Publisher: Edward Elgar Publishing
ISBN: 1800375638
Category : Business & Economics
Languages : en
Pages : 797
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Book Description
This thoroughly revised second edition Handbook provides an authoritative and in-depth overview of choice modelling, covering essential topics range from data collection through model specification and estimation to analysis and use of results. It aptly emphasises the broad relevance of choice modelling when applied to a multitude of fields, including but not limited to transport, marketing, health and environmental economics.
Author: Stephane Hess
Publisher: Edward Elgar Publishing
ISBN: 1781003157
Category : Business & Economics
Languages : en
Pages : 721
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Book Description
The Handbook of Choice Modelling, composed of contributions from senior figures in the field, summarizes the essential analytical techniques and discusses the key current research issues. The book opens with Nobel Laureate Daniel McFadden calling for d
Author: Garrett Glasgow
Publisher: Cambridge University Press
ISBN: 1108877184
Category : Political Science
Languages : en
Pages : 131
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Book Description
In discrete choice models the relationships between the independent variables and the choice probabilities are nonlinear, depending on both the value of the particular independent variable being interpreted and the values of the other independent variables. Thus, interpreting the magnitude of the effects (the “substantive effects”) of the independent variables on choice behavior requires the use of additional interpretative techniques. Three common techniques for interpretation are described here: first differences, marginal effects and elasticities, and odds ratios. Concepts related to these techniques are also discussed, as well as methods to account for estimation uncertainty. Interpretation of binary logits, ordered logits, multinomial and conditional logits, and mixed discrete choice models such as mixed multinomial logits and random effects logits for panel data are covered in detail. The techniques discussed here are general, and can be applied to other models with discrete dependent variables which are not specifically described here.
Author: Moshe Ben-Akiva
Publisher: MIT Press
ISBN: 0262536404
Category : Architecture
Languages : en
Pages : 414
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Book Description
Discrete Choice Analysis presents these results in such a way that they are fully accessible to the range of students and professionals who are involved in modelling demand and consumer behavior in general or specifically in transportation - whether from the point of view of the design of transit systems, urban and transport economics, public policy, operations research, or systems management and planning. The methods of discrete choice analysis and their applications in the modelling of transportation systems constitute a comparatively new field that has largely evolved over the past 15 years. Since its inception, however, the field has developed rapidly, and this is the first text and reference work to cover the material systematically, bringing together the scattered and often inaccessible results for graduate students and professionals. Discrete Choice Analysis presents these results in such a way that they are fully accessible to the range of students and professionals who are involved in modelling demand and consumer behavior in general or specifically in transportation - whether from the point of view of the design of transit systems, urban and transport economics, public policy, operations research, or systems management and planning. The introductory chapter presents the background of discrete choice analysis and context of transportation demand forecasting. Subsequent chapters cover, among other topics, the theories of individual choice behavior, binary and multinomial choice models, aggregate forecasting techniques, estimation methods, tests used in the process of model development, sampling theory, the nested-logit model, and systems of models. Discrete Choice Analysis is ninth in the MIT Press Series in Transportation Studies, edited by Marvin Manheim.
Author: Charles Bellemare
Publisher: Cambridge University Press
ISBN: 1009362658
Category : Business & Economics
Languages : en
Pages : 139
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Book Description
Behavioral economics provides a rich set of explicit models of non-classical preferences and belief formation which can be used to estimate structural models of decision making. At the same time, experimental approaches allow the researcher to exogenously vary components of the decision making environment. The synergies between behavioral and experimental economics provide a natural setting for the estimation of structural models. This Element will cover examples supporting the following arguments 1) Experimental data allows the researcher to estimate structural models under weaker assumptions and can simplify their estimation, 2) many popular models in behavioral economics can be estimated without any programming skills using existing software, 3) experimental methods are useful to validate structural models. This Element aims to facilitate adoption of structural modelling by providing Stata codes to replicate some of the empirical illustrations that are presented. Examples covered include estimation of outcome-based preferences, belief-dependent preferences and risk preferences.
Author: Stephane Hess
Publisher: Edward Elgar Publishing
ISBN: 1781007276
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
'This collection of papers, by leading researchers in the field, provides an excellent view of the current state of research and applications. Exciting new techniques are presented, and realistic solutions are offered to issues that arise in applied work. It is an admirably rich volume, offering valuable insights for all readers of choice modeling.' Kenneth Train, University of California, Berkeley and NERA Economic Consulting, Inc., San Francisco, California, US 'I'm an enthusiastic fan of the ICMC, where researchers are friendly, genuinely interested in learning from and helping one another. There is much to learn because each discipline brings a different perspective to the field and to theoretical and applied problems in decision-making and choice behavior. The ICMC embodies the philosophy that most real choice problems are complex and require a cross-disciplinary approach. The papers in this volume represent an eclectic cross-section of the topics covered by key researchers in the field. I look forward to getting our PhD students and postdocs stuck into them.' Jordan Louviere, University of Technology Sydney, Australia Choice modelling has been one of the most active fields in economics over recent years. This valuable new book contains leading contributions from academics and practitioners from across the different areas of study where choice modelling is a key analytical technique, drawn from a recent international conference. Choice models explain the behaviour of individuals by quantifying their values, responses and perceptions of attributes describing the various options (alternatives) available to them. Policy makers and planners have long since recognised the potential of using choice models for guidance purposes, with applications in fields as diverse as transport analysis, healthcare, telecommunications, public service evaluation and energy. The unique mix of theoretical and applied chapters will appeal to academics, students, researchers and practitioners in various fields, as well as anyone with a general interest in the subject.
