This paper proposes a proportional odds model to combine systemic and non-systemic risk for prediction of default and prepay performance in cohorts of booked loan accounts. We assume that performance odds is proportional to two independent factors, one based on age-dependent systemic, possibly external, global disruptions to a cohort of individual accounts, the other on traditional non-systemic...

4 Subjective equivalence scales 11 4.1 Qualitative questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 4.2 Ordered logit models . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 4.3 A subjective equivalence scale model for France . . . . . . . . . . . . . . . . . . 12 4.4 The cost of a child . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...

This paper proposes a discrete-time hazard regression approach based on the relation between hazard rate models and excess over threshold models, which are frequently encountered in extreme value modelling. The proposed duration model employs a exible link function and incorporates the grouped-duration analogue of the wellknown Cox proportional hazards model and the proportional odds model as s...

Ordered discrete dependent variable models such as ordered probit and ordered logit are frequently used across the social sciences to study outcomes including health status, happiness, wealth and educational attainment. Unlike in the case of OLS, unaccounted for heteroskedasticity in these models can lead to biased parameter estimates. This paper introduces the oglmx package for the R statistic...

No-till acreage has increased in recent years, but many farmers alternate no-till with other tillage practices, limiting public and private benefits from sustained no-till adoption. Revealed preference data are used in an ordered logit regression analysis to determine the effect of soil characteristics, climate, regions, farm characteristics, and producer demographics on producers’ choices to u...

We consider the problem of combining k subjective probability distributions for a quantity of interest θ ∈ Θ. Two modified versions of the irrelevance of alternatives axiom are introduced by focusing on the consensual conditional odds, rather than the consensual probabilities. A strong modification of the axiom requires that the consensual odds depend only on the individual odds, while a weak m...

1. The Effect of Response Level Ordering on Parameter Estimate Interpretation 2. Odds Ratios 2.1 Binary Explanatory Variable Modeling the Event 2.2 Binary Explanatory Variable Modeling the Nonevent 2.3 Continuous Explanatory Variable 3. Predicted Probabilities 4. Predicted by Observed Classification Tables 4.1 Classification Using Predicted Probabilities 4.2 Classification Using Bias-adjusted P...

This paper focuses on identifying the appropriate ordered response structure for modeling pedestrian injury severity. The alternative ordered response approaches considered for the empirical analysis include: ordered logit model (OL), generalized ordered logit model (GOL) and latent segmentation based ordered logit model (LSOL). The GOL and LSOL models enhance the traditional OL model in differ...

In contrast to the classical discrete choice experiment, the respondent in a rank-order discrete choice experiment, is asked to rank a number of alternatives instead of the preferred one. In this paper, we study the information matrix of a rank order nested multinomial logit model (RO.NMNL) and introduce local D-optimality criterion, then we obtain Locally D-optimal design for RO.NMNL models in...