This paper investigates the application of a nested logit model to urban transit networks where every set of competitive transit lines is described by a particular graph structure called hyperpath. It shows that the nested logit model transcends the inherent limitations of the simple logit model while retaining the algorithmic advantages similar to that obtained with the ordinary logit model fo...

This article deals with a very simple issue: if we have grouped data with a binary dependent variable and want to include fixed effects (group specific intercepts) in the specification, is Ordinary Least Squares (OLS) in any way superior to a (conditional) logit form? In particular, what are the consequences of using OLS instead of a fixed effects logit model with respect to the latter dropping...

Logit dynamics [Blume, Games and Economic Behavior, 1993] is a randomized best response dynamics where at every time step a player is selected uniformly at random and she chooses a new strategy according to the “logit choice function”, i.e. a probability distribution biased towards strategies promising higher payoffs, where the bias level corresponds to the degree of rationality of the agents. ...

Substantive income effects are incorporated in a logit or nested-logit model by assuming that utility is a piece-wise linear spline function of residual income. Specific income data are not required, only income by category. Expected compensating variation is easily and accurately approximated by the difference between expected maximum utility in the proposed and initial state, multiplied by th...

This note shows, by means of two simple, three-strategy games, the existence of stable periodic orbits and of multiple, interior steady states in a smooth version of the Best Response Dynamics, the Logit Dynamics. The main finding is that, unlike Replicator Dynamics, generic Hopf bifurcation and thus, stable limit cycles, occur under the Logit Dynamics, even for three strategy games. We also sh...

Estimation of disaggregate mode choice models to estimate the ridership share on a proposed new (or improved) intercity travel service and to identify the modes from which existing intercity travelers will be diverted to the new or upgraded service constitutes a critical part of evaluating alternative travel service proposals to alleviate intercity travel congestion. This paper develops a new h...

Empirical studies on household car ownership have used two types of discrete choice modelling structures, the ordered and the unordered. In ordered structures such as the ordered logit and ordered probit models, the choice of the number of household-vehicles arises from a uni-dimensional latent index that reflects the propensity of a household to own vehicles. Unordered response models, on the ...

Balance-sheet data offer a potentially large number of candidate predictors of corporate financial failure. In this paper we provide a novel predictor selection procedure based on non-parametric regression and classification tree method (CART) and test its performance within a standard logit model. We show that a simple logit model with dummy variables created in accordance with the nodes of es...

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 asym...

the study assessed the effects of agricultural practices on biodiversity in olamaboro local government are of kogi state, nigeria. one hundred and fifty (150) farmers (respondents) were sampled using simple random sampling technique from five council wards (30 farmers per council ward). data collected were analyzed using descriptive statistics and logit regression model. results showed that 63%...