Parametric Discrete Choice Models Based on the Scale Mixtures of Multivariate Normal Distributions (running Title: Parametric Discrete Choice Models)
نویسندگان
چکیده
SUMMARY. A rich class of parametric models is proposed for discrete choice data based on the scale mixtures of multivariate normal distributions. With special connections to multinomial probit, the new models can be implemented in a Bayesian framework without much diiculty. The proposed class of models can be extended to panel data where accounting for heterogeneities is needed. This is done by building a Bayesian hierarchical model within the random utility maximization framework. Model comparison using the Bayes factor is developed. The new models and the estimation techniques are illustrated using travel mode choice and panel brand choice data.
منابع مشابه
Discrete Choice Models Based on the Scale Mixture of Multivariate Normal Distributions
A rich class of parametric models is proposed for discrete choice data based on the scale mixture of multivariate normal distributions. The multinomial probit model is a special case in the class. The new models can be implemented in a Bayesian framework without much difficulty because of their special connections to the multinomial probit model. A Gibbs sampler with data augmentation is used t...
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