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Discrete Choice Methods with Simulation

2nd Edition

$44.99 (P)

  • Date Published: June 2009
  • availability: Available
  • format: Paperback
  • isbn: 9780521747387

$44.99 (P)

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About the Authors
  • 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.

    • Offers 2 highly anticipated new chapters on endogeneity and expectation-maximization (EM) algorithms
    • Can be used across social science and science courses in decision-making by consumers, households, firms, and other economic agents
    • Application sectors include energy transportation, environment, health, labor, and marketing
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    Product details

    • Edition: 2nd Edition
    • Date Published: June 2009
    • format: Paperback
    • isbn: 9780521747387
    • length: 400 pages
    • dimensions: 229 x 152 x 23 mm
    • weight: 0.59kg
    • contains: 46 b/w illus. 17 tables
    • availability: Available
  • Table of Contents

    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.

  • Instructors have used or reviewed this title for the following courses

    • Microeconometrics I
  • Author

    Kenneth E. Train, University of California, Berkeley

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