Description: Discrete Choice Methods with Simulation This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Kenneth E. Train (Author) 9780521766555, Cambridge University Press Hardback, published 6 July 2009 400 pages 22.9 x 15.2 x 2.5 cm, 0.76 kg 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. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. This 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. 1. Introduction Part I. Behavioral Models: 2. Properties 3. Logit 4. GEV 5. Probit 6. Mixed logit 7. Variations on a theme Part II. Estimation: 8. Numerical maximization 9. Drawing from densities 10. Simulation-assisted estimation 11. Individual-level parameters 12. Bayesian procedures 13. Endogeneity 14. EM algorithms. Subject Areas: Probability & statistics [PBT], Economic statistics [KCHS], Econometrics [KCH]
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BIC Subject Area 1: Probability & statistics [PBT]
BIC Subject Area 2: Economic statistics [KCHS]
BIC Subject Area 3: Econometrics [KCH]
Number of Pages: 400 Pages
Publication Name: Discrete Choice Methods with Simulation
Language: English
Publisher: Cambridge University Press
Item Height: 229 mm
Subject: Economics, Mathematics
Publication Year: 2009
Type: Textbook
Item Weight: 760 g
Author: Kenneth E. Train
Item Width: 152 mm
Format: Hardcover
