Recent Progress on Endogeneity in Choice Modeling
نویسندگان
چکیده
We describe recent progress in several areas related to endogeneity, including: choice set formation and attention to attributes; interactions among decision-makers; respondents’ strategic behavior in answering stated preference choices; models of multiple discrete/continuous choice; distributions of willingness-to-pay; and methods for handling traditionally endogenous explanatory variables. 1 Corresponding author. Email: [email protected]. Address: Faculty of Business, University of Technology, Sydney, Haymarket Campus, PO Box 123, Broadway NSW 2007, Australia. Voice: 61-2-8586-5600.
منابع مشابه
Modeling the Choice Continuum: an Integrated Model of Residential Location, Auto Ownership, Bicycle Ownership, and Commute Tour Mode Choice Decisions
The integrated modeling of land use and transportation involves analyzing the entire choice continuum defining people’s lifestyles across temporal scales. This includes long term choices such as residential and work location choices, medium term choices such as vehicle and bicycle ownership, and short term choices such as mode choice and trip departure time choice. In recent times, there has be...
متن کاملQuality of Financial Reporting Choice: Determinants and Economic Consequences
I investigate the determinants and economic consequences associated with firms’ financial reporting choices. Recognizing the endogeneity associated with these choices, I find evidence of a positive association between investors’ demands for firm-specific information and financial reporting quality. I also find that higher proprietary costs are associated with a lower quality of financial inform...
متن کاملA Bayesian Semiparametric Approach for Endogeneity and Heterogeneity in Choice Models
Marketing variables included in consumer discrete choice models are often endogenous. Extant treatments using likelihood-based estimators impose parametric distributional assumptions such as normality, on the source of endogeneity. These assumptions are restrictive as misspecified distributions have an impact on parameter estimates and associated elasticities. The normality assumption for endog...
متن کاملAddressing Endogeneity in Discrete Choice Models: Assessing Control-Function and Latent- Variable Methods
Endogenity or non-orthogonality in discrete choice models occurs when the systematic part of the utility is correlated with the error term. Under this misspecification, the model's estimators are inconsistent. This problem is virtually unavoidable, for example, in discrete choice models of residential choice where endogeneity occurs at the level of each observation mainly because of the omissio...
متن کاملBehavioral and Descriptive Forms of Choice Models∗
Empirical work on choice models, especially on relatively new topics or data sets, often starts with descriptive, or what is colloquially referred to as “reduced form”, results. Our descriptive form formalizes this process. It is derived from the underlying behavioral model, has an interpretation in terms of fit, and can sometimes be used to quantify biases in agents’ expectations. We consider ...
متن کامل