Description
CAMBRIDGE UNIVERSITY PRESS Discrete Choice Methods With Simulation by Kenneth E. Train
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 crossnested 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 MetropolisHastings algorithm and its variant Gibbs sampling. This second edition adds chapters on endogeneity and expectationmaximization (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.