A Bayes multinomial probit model for random consumer-surplus maximization
نویسندگان
چکیده
منابع مشابه
A multinomial probit model of stochastic evolution
A strategy revision process in symmetric normal form games is proposed. Following Kandori, Mailath, and Rob (1993), members of a population periodically revise their strategy choice, and choose a myopic best response to currently observed play. Their payoffs are perturbed by normally distributed Harsanyian (1973) trembles, so that strategies are chosen according to multinomial probit probabilit...
متن کاملA Bayesian Mixed Logit-Probit Model for Multinomial Choice
In this paper we introduce a new flexible mixed model for multinomial discrete choice where the key individualand alternative-specific parameters of interest are allowed to follow an assumptionfree nonparametric density specification while other alternative-specific coefficients are assumed to be drawn from a multivariate normal distribution which eliminates the independence of irrelevant alter...
متن کاملEstimability in the Multinomial Probit Model
Random utility models often involve terms which represent alternative-specific errors, and the main attractive feature of the multinomial probit (MNP) model is that it allows a rather general covariance structure for these errors. However, since observed choices only reveal information regarding utility differences, and since scale cannot be determined, not all parameters in an arbitr~iry MNP s...
متن کاملA Multinomial Ordinal Probit Model with Singular Value Decomposition Method for a Multinomial Trait.
We developed a multinomial ordinal probit model with singular value decomposition for testing a large number of single nucleotide polymorphisms SNPs simultaneously for association with multidisease status when sample size is much smaller than the number of SNPs. The validity and performance of the method was evaluated via simulation. We applied the method to our real study sample recruited thro...
متن کاملObjective Bayes model selection in probit models.
We describe a new variable selection procedure for categorical responses where the candidate models are all probit regression models. The procedure uses objective intrinsic priors for the model parameters, which do not depend on tuning parameters, and ranks the models for the different subsets of covariates according to their model posterior probabilities. When the number of covariates is moder...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Choice Modelling
سال: 2016
ISSN: 1755-5345
DOI: 10.1016/j.jocm.2015.09.007