Random coefficient models such as mixed logit are increasingly being used to allow for random heterogeneity in willingness to pay (WTP) measures. In the most commonly used specifications, the distribution of WTP for an attribute is derived from the distribution of the ratio of individual coefficients. Since the cost coefficient enters the denominator, its distribution plays a major role in the ...

We develop new methods for conducting a finite sample, likelihood-based analysis of the multinomial probit model. Using a variant of the Gibbs sampler, an algorithm is developed to draw from the exact posterior of the multinomial probit model with correlated errors. This approach avoids direct evaluation of the likelihood and, thus, avoids the problems associated with calculating choice probabi...

Different instruments are relevant for different marketing objectives (category demand expansion or market share stealing). To help brand managers make informed marketing mix decisions, it is essential that marketing mix models appropriately measure the different effects of marketing instruments. Randomly Utility Maximizing (RUM) discrete choice models that have been applied to this problem mig...

There is a growing recognition that discrete choice models are capable of providing a more realistic picture of route choice behavior. In particular, influential factors other than travel time that are found to affect the choice of route trigger the application of random utility models in the route choice literature. This paper focuses on path-based, logit-type stochastic route choice models, i...

the aim of the present study was the estimation of (co) variance components and genetic parameters for body weight of moghani sheep, using random regression models based on b-splines functions. the data set included 9165 body weight records from 60 to 360 days of age from 2811 moghani sheep, collected between 1994 to 2013 from jafar-abad animal research and breeding institute, ardabil province,...