Open AccessBook
Discrete Choice Methods with Simulation
Reads0
Chats0
TLDR
In this paper, the authors describe the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation, and compare simulation-assisted estimation procedures, including maximum simulated likelihood, method of simulated moments, and methods of simulated scores.Abstract:
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 simulated 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. No other book incorporates all these fields, which have arisen in the past 20 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.read more
Citations
More filters
Posted ContentDOI
Understanding U.S. Consumer Demand for Milk Production Attributes
TL;DR: A choice experiment was used to examine the value of various fluid milk attributes as discussed by the authors, and consumers were generally willing to pay substantial premiums for milk produced without the use of rbST, on local family farms, with assured food safety enhancement.
Journal ArticleDOI
Testing Ecological Theories of Offender Spatial Decision Making Using a Discrete Choice Model
Shane D. Johnson,Lucia Summers +1 more
TL;DR: This study examines how the characteristics of neighborhoods and their proximity to offender home locations affect offender spatial decision making and demonstrates that offenders favor areas that are low in social cohesion and closer to their home, or other age-related activity nodes.
Journal ArticleDOI
Landscape properties as drivers for farm diversification: A Dutch case study
TL;DR: In this article, the role of location, in terms of site specific natural conditions as well as neighboring dynamics, in influencing farmers' decision making to diversify is addressed, and it investigates to what extent low returns from primary production stimulate farmers to find new survival strategies, and therefore explains diversification.
Dynamics and Competition in Charitable Giving
TL;DR: In this paper, the authors study the dynamic and competitive effects of charitable direct mailings on donating behavior and propose two direct mailing response models, with the first focusing primarily on the competitive dimension, and the second focusing mainly on the dynamic dimension.
Journal ArticleDOI
Patient preferences for surgical versus medical therapy for ulcerative colitis.
Meenakshi Bewtra,Vikram Kilambi,Angelyn O. Fairchild,Corey A. Siegel,James D. Lewis,F. Reed Johnson +5 more
TL;DR: Patients with UC are willing to accept relatively high risks of fatal complications from medical therapy to avoid a permanent ostomy and to achieve durable clinical remission, but view J-pouch surgery, but not permanent ileostomy, as an acceptable therapy for refractory UC in which medical therapy is unable to induce a durable remission.
References
More filters
Journal ArticleDOI
Maximum likelihood from incomplete data via the EM algorithm
Journal ArticleDOI
Estimating the Dimension of a Model
TL;DR: In this paper, the problem of selecting one of a number of models of different dimensions is treated by finding its Bayes solution, and evaluating the leading terms of its asymptotic expansion.
Estimating the dimension of a model
TL;DR: In this paper, the problem of selecting one of a number of models of different dimensions is treated by finding its Bayes solution, and evaluating the leading terms of its asymptotic expansion.
Journal ArticleDOI
Equation of state calculations by fast computing machines
TL;DR: In this article, a modified Monte Carlo integration over configuration space is used to investigate the properties of a two-dimensional rigid-sphere system with a set of interacting individual molecules, and the results are compared to free volume equations of state and a four-term virial coefficient expansion.
Journal ArticleDOI
Sample Selection Bias as a Specification Error
TL;DR: In this article, the bias that results from using non-randomly selected samples to estimate behavioral relationships as an ordinary specification error or "omitted variables" bias is discussed, and the asymptotic distribution of the estimator is derived.