An MM Algorithm for General Mixed Multinomial Logit Models∗
نویسنده
چکیده
This paper develops a new technique for estimating mixed logit models with a simple minorization-maximization (MM) algorithm. The algorithm requires minimal coding and is easy to implement for a variety of mixed logit models. Most importantly, the algorithm has a very low cost per iteration relative to current methods, producing substantial computational savings. In addition, the method is asymptotically consistent, efficient and globally convergent.
منابع مشابه
Multinomial logit random effects models
This article presents a general approach for logit random effects modelling of clustered ordinal and nominal responses. We review multinomial logit random effects models in a unified form as multivariate generalized linear mixed models. Maximum likelihood estimation utilizes adaptive Gauss–Hermite quadrature within a quasi-Newton maximization algorithm. For cases in which this is computationall...
متن کاملProbit and nested logit models based on fuzzy measure
Inspired by the interactive discrete choice logit models [Aggarwal, 2019], this paper presents the advanced families of discrete choice models, such as nested logit, mixed logit, and probit models to consider the interaction among the attributes. Besides the DM's attitudinal character is also taken into consideration in the computation of choice probabilities. The proposed choice models make us...
متن کاملComparing Alternative Models of Heterogeneity in Consumer Choice Behavior
While there is general agreement that consumer taste heterogeneity is crucially important in marketing, there is no consensus on a preferred approach to modeling heterogeneity. In this paper, we assess the performance of five alternative choice models, using ten empirical data sets. We include the popular latent class (LC) model, and the mixed logit (MIXL) model where utility weights are assume...
متن کاملOn Locally Optimal Criterion for a Logit Model with Random Parameters
Mixed logit is a highly flexible model that can approximate any random utility model. In this paper, two kinds of mixed multinomial logit models were considered. The main aim was to introduce a locally D-optimal criterion to obtain an optimal combination of the levels of attributes for producing alternatives and an optimal combination of alternatives in choice sets. Thus, a design including cho...
متن کاملProfile Construction in Experimental Choice Designs for Mixed Logit Models
A computationally attractive model for the analysis of conjoint choice experiments is the mixed multinomial logit model, a multinomial logit model in which it is assumed that the coefficients follow a (normal) distribution across subjects. This model offers the advantage over the standard multinomial logit model of accommodating heterogeneity in the coefficients of the choice model across subje...
متن کامل