Discrete Choice Methods with Simulation

By: Kenneth E. Train

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Hardcover | 6 July 2009 | Edition Number 2

At a Glance

Hardcover
400 Pages

Edition Type
Revised

Dimensions(cm)
22.86 x 15.24 x 2.54

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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.

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Non-Fiction Reference, Information & Interdisciplinary Subjects Research & Information Decision Theory Mathematics Probability & Statistics Economics Econometrics Economic Statistics

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Paperback

Published: 1st October 2009

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Introduction
Behavioral Models
Properties
Logit
GEV
Probit
Mixed logit
Variations on a theme
Estimation
Numerical maximization
Drawing from densities
Simulation-assisted estimation
Individual-level parameters
Bayesian procedures
Endogeneity
EM algorithms
Table of Contents provided by Publisher. All Rights Reserved.

Discrete Choice Methods with Simulation

At a Glance

Hardcover

Shipping

How to return your order

Defective items

You Can Find This Book In

Other Editions and Formats

Paperback

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