Interpreting Discrete Choice Models
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| Author | : Kenneth Train |
| Publisher | : Cambridge University Press |
| Total Pages | : 399 |
| Release | : 2009-07-06 |
| Genre | : Business & Economics |
| ISBN | : 0521766559 |
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.
| Author | : Moshe E. Ben-Akiva |
| Publisher | : MIT Press |
| Total Pages | : 424 |
| Release | : 1985 |
| Genre | : Architecture |
| ISBN | : 9780262022170 |
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 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. Discrete Choice Analysis is ninth in the MIT Press Series in Transportation Studies, edited by Marvin Manheim.
| Author | : Garrett Glasgow |
| Publisher | : Cambridge University Press |
| Total Pages | : 131 |
| Release | : 2022-05-12 |
| Genre | : Political Science |
| ISBN | : 1108877184 |
In discrete choice models the relationships between the independent variables and the choice probabilities are nonlinear, depending on both the value of the particular independent variable being interpreted and the values of the other independent variables. Thus, interpreting the magnitude of the effects (the “substantive effects”) of the independent variables on choice behavior requires the use of additional interpretative techniques. Three common techniques for interpretation are described here: first differences, marginal effects and elasticities, and odds ratios. Concepts related to these techniques are also discussed, as well as methods to account for estimation uncertainty. Interpretation of binary logits, ordered logits, multinomial and conditional logits, and mixed discrete choice models such as mixed multinomial logits and random effects logits for panel data are covered in detail. The techniques discussed here are general, and can be applied to other models with discrete dependent variables which are not specifically described here.
| Author | : David A. Hensher |
| Publisher | : Cambridge University Press |
| Total Pages | : 1219 |
| Release | : 2015-06-11 |
| Genre | : Business & Economics |
| ISBN | : 1107092647 |
A fully updated second edition of this popular introduction to applied choice analysis, written for graduate students, researchers, professionals and consultants.
| Author | : William H. Greene |
| Publisher | : Cambridge University Press |
| Total Pages | : 383 |
| Release | : 2010-04-08 |
| Genre | : Business & Economics |
| ISBN | : 1139485954 |
It is increasingly common for analysts to seek out the opinions of individuals and organizations using attitudinal scales such as degree of satisfaction or importance attached to an issue. Examples include levels of obesity, seriousness of a health condition, attitudes towards service levels, opinions on products, voting intentions, and the degree of clarity of contracts. Ordered choice models provide a relevant methodology for capturing the sources of influence that explain the choice made amongst a set of ordered alternatives. The methods have evolved to a level of sophistication that can allow for heterogeneity in the threshold parameters, in the explanatory variables (through random parameters), and in the decomposition of the residual variance. This book brings together contributions in ordered choice modeling from a number of disciplines, synthesizing developments over the last fifty years, and suggests useful extensions to account for the wide range of sources of influence on choice.
| Author | : Tim Futing Liao |
| Publisher | : SAGE |
| Total Pages | : 100 |
| Release | : 1994-06-30 |
| Genre | : Mathematics |
| ISBN | : 9780803949997 |
What is the probability that something will occur, and how is that probability altered by a change in an independent variable? To answer these questions, Tim Futing Liao introduces a systematic way of interpreting commonly used probability models. Since much of what social scientists study is measured in noncontinuous ways and, therefore, cannot be analyzed using a classical regression model, it becomes necessary to model the likelihood that an event will occur. This book explores these models first by reviewing each probability model and then by presenting a systematic way for interpreting the results from each.
| Author | : J. Scott Long |
| Publisher | : SAGE |
| Total Pages | : 334 |
| Release | : 1997-01-09 |
| Genre | : Mathematics |
| ISBN | : 9780803973749 |
Evaluates the most useful models for categorical and limited dependent variables (CLDVs), emphasizing the links among models and applying common methods of derivation, interpretation, and testing. The author also explains how models relate to linear regression models whenever possible. Annotation c.
| Author | : David A. Hensher |
| Publisher | : Cambridge University Press |
| Total Pages | : 746 |
| Release | : 2005-06-02 |
| Genre | : Business & Economics |
| ISBN | : 9780521844260 |
Almost without exception, everything human beings undertake involves a choice. In recent years there has been a growing interest in the development and application of quantitative statistical methods to study choices made by individuals with the purpose of gaining a better understanding both of how choices are made and of forecasting future choice responses. In this primer the authors provide an unintimidating introduction to the main techniques of choice analysis and include detail on themes such as data collection and preparation, model estimation and interpretation and the design of choice experiments. A companion website to the book provides practice data sets and software to estimate the main discrete choice models such as multinomial logit, nested logit and mixed logit. This primer will be an invaluable resource to students as well as of immense value to consultants and professionals, researchers and anyone else interested in choice analysis and modelling.
| Author | : Vani K. Borooah |
| Publisher | : SAGE |
| Total Pages | : 108 |
| Release | : 2002 |
| Genre | : Mathematics |
| ISBN | : 9780761922421 |
Many problems in the social sciences are amenable to analysis using the analytical tools of logit and probit models. This book explains what ordered and multinomial models are and also shows how to apply them to analysing issues in the social sciences.
| Author | : Jordan J. Louviere |
| Publisher | : Cambridge University Press |
| Total Pages | : 363 |
| Release | : 2015-09-23 |
| Genre | : Business & Economics |
| ISBN | : 1107043158 |
First systematic treatment of best-worst scaling, explaining how to implement, analyze, and apply the theory across a range of disciplines.
