This chapter examines different models commonly used to model probabilistic choice, such as eg the choice of one type of transportation from among many choices available to the consumer. Section 1 discusses derivation and limitations of conditional logit models. Section 2 discusses probit models and Section 3 discusses the nested logit (generalized extreme value models), which address some of t...

We estimate random-parameter logit models of anglers' choice of fishing site. The models generalize logit by allowing coefficients to vary randomly over anglers rather than being fixed. The models do not exhibit the restrictive "independence from irrelevant alternatives property" of logit and can represent any substitution pattern. Estimation explicitly accounts for the fact that the variation ...

In this paper, we present some distributional properties of the survival and frailty distribution involved in the proportional odds (PO) frailty model. Stochastic orderings are studied for this proportional odds frailtymodel. It is showed that negative dependence arises in the PO frailty model as opposed to the proportional hazard frailty model.

It is well understood that the two most popular empirical models of location choice conditional logit and Poisson return identical coefficient estimates when the regressors are not individual specific. We show that these two models differ starkly in terms of their implied predictions. The conditional logit model represents a zero-sum world, in which one region's gain is the other regions' loss....

The Multinomial Logit, discrete choice model of transport demand, has several restrictions when compared with the more general Multinomial Probit model. The most famous of these are that unobservable components of utilities should be mutually independent and homoskedastic. Correlation can be accommodated to a certain extent by the Hierarchical Logit model, but the problem of heteroskedasticity ...

We estimate random-parameter logit models of anglers ' choice of fishing site. The models generalize logit by allowing coefficients to vary randomly over anglers rather than being fixed. The models do not exhIbit the restrictive "independence from irrelevant alternatives property of logit and can represent any substitution pattern. Estimation explicitly accounts for the fact that the variation ...

In this study we assess the ability of the Marine Recreational Fishery Statistics Survey (MRFSS) to support single-species recreation demand models. We use the 2000 MRFSS southeast intercept data combined with the economic add-on. We determine that the MRFSS data will support only a few species-specific recreation demand models. Considering species of management interest in the southeast, we fo...

The so-called “mixed” or “heterogeneous” multinomial logit (MIXL) model has become popular in a number of fields, especially Marketing, Health Economics and Industrial Organization. In most applications of the model, the vector of consumer utility weights on product attributes is assumed to have a multivariate normal (MVN) distribution in the population. Thus, some consumers care more about som...

This paper compares neural network models with the standard logit and probit models, the most widely used choice/classi cation models in current empirical research, and explores the application of neural network models in analyzing political choice/classi cation problems. Political relationships are usually nonlinear and of unknown functional forms, and political data are likely noisy. The logi...