DISCRETE CHOICE METHODS WITH SIMULATION

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Discrete Choice Methods With Simulation

Author : Kenneth E. Train
ISBN : 9781139480376
Genre : Business & Economics
File Size : 45.99 MB
Format : PDF, Kindle
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This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. This second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.
Category: Business & Economics

Discrete Choice Methods With Simulation

Author : Kenneth Train
ISBN : 9780521766555
Genre : Business & Economics
File Size : 21.80 MB
Format : PDF, Docs
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This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.
Category: Business & Economics

Discrete Choice Methods With Simulation

Author : Kenneth Train
ISBN : 0521017157
Genre : Business & Economics
File Size : 46.63 MB
Format : PDF
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The author investigates recent discrete choice methods, focusing on advances that simulation has made possible.
Category: Business & Economics

Discrete Choice Methods With Simulation

Author : Kenneth Train
ISBN : 0511592493
Genre : Consumers' preferences
File Size : 69.79 MB
Format : PDF, ePub
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"This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. This second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing."--Pub. desc.
Category: Consumers' preferences

Discrete Choice Analysis

Author : Moshe E. Ben-Akiva
ISBN : 0262022176
Genre : Architecture
File Size : 46.2 MB
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The methods of discrete choice analysis and their applications in the modelling of transportation systems constitute a comparatively new field that has largely evolved over the past 15 years. Since its inception, however, the field has developed rapidly, and this is the first text and reference work to cover the material systematically, bringing together the scattered and often inaccessible results for graduate students and professionals. Discrete Choice Analysis presents these results in such a way that they are fully accessible to the range of students and professionals who are involved in modelling demand and consumer behavior in general or specifically in transportation - whether from the point of view of the design of transit systems, urban and transport economics, public policy, operations research, or systems management and planning. The introductory chapter presents the background of discrete choice analysis and context of transportation demand forecasting. Subsequent chapters cover, among other topics, the theories of individual choice behavior, binary and multinomial choice models, aggregate forecasting techniques, estimation methods, tests used in the process of model development, sampling theory, the nested-logit model, and systems of models. Moshe Ben-Akiva and Steven R. Lerman are both faculty members of the Civil Engineering Department at MIT and affiliated with its Center for Transportation Studies. Discrete Choice Analysis is ninth in the MIT Press Series in Transportation Studies, edited by Marvin Manheim.
Category: Architecture

Qualitative Choice Analysis

Author : Kenneth Train
ISBN : 0262200554
Genre : Business & Economics
File Size : 44.85 MB
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This book addresses two significant research areas in an interdependent fashion. It is first of all a comprehensive but concise text that covers the recently developed and widely applicable methods of qualitative choice analysis, illustrating the general theory through simulation models of automobile demand and use. It is also a detailed study of automobile demand and use, presenting forecasts based on these powerful new techniques. The book develops the general principles that underlie qualitative choice models that are now being applied in numerous fields in addition to transportation, such as housing, labor, energy, communications, and criminology. The general form, derivation, and estimation of qualitative choice models are explained, and the major models - logit, probit, and GEV - are discussed in detail. And continuous/discrete models are introduced. In these, qualitative choice methods and standard regression techniques are combined to analyze situations that neither alone can accurately forecast. Summarizing previous research on auto demand, the book shows how qualitative choice methods can be used by applying them to specific auto-related decisions as the aggregate of individuals' choices. The simulation model that is constructed is a significant improvement over older models, and should prove more useful to agencies and organizations requiring accurate forecasting of auto demand and use for planning and policy development. The book concludes with an actual case study based on a model designed for the investigations of the California Energy Commission. Kenneth Train is Visiting Associate Professor in Economics at the University of California, Berkeley, and Director of Economic Research at Cambridge Systematics, Inc., also in Berkeley. Qualitative Choice Analysis is included in The MIT Press Transportation Studies Series, edited by Marvin L. Manheim.
Category: Business & Economics

Applications Of Simulation Methods In Environmental And Resource Economics

Author : Riccardo Scarpa
ISBN : 9781402036842
Genre : Business & Economics
File Size : 69.18 MB
Format : PDF
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Simulation methods are revolutionizing the practice of applied economic analysis. In this book, leading researchers from around the world discuss interpretation issues, similarities and differences across alternative models, and propose practical solutions for the choice of the model and programming. Case studies show the practical use and the results brought forth by the different methods.
Category: Business & Economics

Applied Choice Analysis

Author : David A. Hensher
ISBN : 0521605776
Genre : Business & Economics
File Size : 80.95 MB
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In recent years there has been a growing interest in the development and application of quantitative statistical methods to study choices made by individuals. This primer provides an introduction to the main techniques of choice analysis and also includes detail on data collection and preparation, model estimation and interpretation and the design of choice experiments. A companion website provides practice data sets and software to apply modeling and data skills presented in the book. An invaluable resource to students and of value to anyone interested in choice analysis and modelling.
Category: Business & Economics

Price And Quantity Index Numbers

Author : Bert M. Balk
ISBN : 9781107404960
Genre : Business & Economics
File Size : 38.19 MB
Format : PDF
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This book is the first comprehensive text on index number theory since Irving Fisher's 1922 The Making of Index Numbers. The book covers intertemporal and interspatial comparisons; ratio- and difference-type measures; discrete and continuous time environments; and upper- and lower-level indices. Guided by economic insights, this book develops the instrumental or axiomatic approach.
Category: Business & Economics

Stated Choice Methods

Author : Jordan J. Louviere
ISBN : 0521788307
Genre : Business & Economics
File Size : 30.85 MB
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Understanding and predicting the behaviour of decision makers when choosing among discrete goods has been one of the most fruitful areas of applied research over the last thirty years. An understanding of individual consumer behaviour can lead to significant changes in product or service design, pricing strategy, distribution channel and communication strategy selection, as well as public welfare analysis. This graduate and practitioner guide, first published in 2000, deals with the study and prediction of consumer choice behaviour, concentrating on stated preference (SP) methods - placing decision makers in controlled experiments that yield hypothetical choices - rather than revealed preferences (RP) - actual choices in the market. It shows how SP methods can be implemented, from experimental design to econometric modelling, and suggests how to combine RP and SP data to get the best from each type. The book also presents an update of econometric approaches to choice modelling.
Category: Business & Economics