This study investigates the daily co-movements in commodity prices over period 2006–2020 using a novel approach based on time-varying Gerber correlation. The statistic is computed considering set of probabilities estimated via non-traditional models that give structure to measure. results indicate there are several across commodities, these change time, and they tendentially positive. Condition...

We develop and evaluate a test of choice set misspecification for a multinomial logit choice model. This test determines whether the choice set designated by the researcher mistakenly assigns relevant substitutes to the numeraire good. We develop this test by generalizing the traditional McFadden-type conditional logit model to evaluate whether the traditional model is conditioned on an overly ...

Modeling travel behavior is a key aspect of demand analysis, where aggregate demand is the accumulation of individuals’ decisions. In this chapter, we focus on “short-term” travel decisions. The most important short-term travel decisions include choice of destination for a non-work trip, choice of travel mode, choice of departure time and choice of route. It is important to note that short-term...

the aim of present article is determining economic value of air pollution and environmental effects of mashhad city air pollution. data of 286 households of mashhad was gathered through questionnaire in a survey reaserch using stratified random sampling method in year 2006. in order to detemine environmental effects of air pollution choice experiment approach - which gives the most perfect envi...

Health preference research (HPR) is the subfield of health economics dedicated to understanding value and health-related objects using observational or experimental methods. In a discrete choice experiment (DCE), utility in set may differ systematically between persons due interpersonal heterogeneity (e.g., brand-name medication, generic no medication). To allow for heterogeneity, probabilities...

Accuracy is often analyzed using analysis of variance techniques in which the data are assumed to be normally distributed. However, accuracy data are discrete rather than continuous, and proportion correct are constrained to the range 0–1. Monte Carlo simulations are presented illustrating how this can lead to distortions in the pattern of means. An alternative is to analyze accuracy using logi...

This paper describes a recursive method for estimating random coefficient models. Starting with a trial value for the moments of the distribution of coefficients in the population, draws are taken and then weighted to represent draws from the conditional distribution for each sampled agent (i.e., conditional on the agent’s observed dependent variable.) The moments of the weighted draws are calc...

In conventional random-utility models, such as the multinomial logit model, it is assumed that a decisionmaker's choice set is independent of his or her preferences conditional on the explanatory variables of the models. However, there are many situations in which the decisionmaker chooses the choice set, thereby making the independence assumption implausible. For example, if information about ...