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Quasi-random number sequences have been used extensively for many years in the simulation of integrals that do not have a closed-form expression, such as Mixed Logit and Multinomial Probit choice probabilities. Halton sequences are one example of such quasi-random number sequences, and various...
Persistent link: https://www.econbiz.de/10005191589
Most applications of discrete choice models in transportation now utilise a random coefficient specification, such as mixed logit, to represent taste heterogeneity. However, little is known about the ability of these models to capture the heterogeneity in finite samples (as opposed to...
Persistent link: https://www.econbiz.de/10009143129
We compare multinomial logit and mixed logit models for data on California households' revealed and stated preferences for automobiles. The stated preference (SP) data elicited households' preferences among gasoline, electric, methanol, and compressed natural gas vehicles with various...
Persistent link: https://www.econbiz.de/10005115242
We describe the properties of (t,m,s)-nets and Halton draws. Four types of (t,m,s)-nets, two types of Halton draws, and independent draws are compared in an application of maximum simulated likelihood estimation of a mixed logit model. All of the quasi-random procedures are found to perform far...
Persistent link: https://www.econbiz.de/10005191818
We identify seven areas in which recent research on auto demand has made significant progress. We discuss the importance of these areas in understanding and predicting auto demand and describe the methods that researchers have used to address them. Finally, we identify the issues that this...
Persistent link: https://www.econbiz.de/10005279806
Constructing stated-preference (sp) experiments from a choice that the respondent made in a revealed-preference setting can enhance the realism of the sp task and the efficacy of preference revelation. However, the practice creates dependence between the sp attributes and unobserved factors,...
Persistent link: https://www.econbiz.de/10005279911
Persistent link: https://www.econbiz.de/10005228257
Persistent link: https://www.econbiz.de/10005191476
There is growing interest in establishing the extent of differences in willingness to pay (WTP) for attributes, such as travel time savings, that are derived from real market settings and hypothetical (to varying degrees) settings. Non-experiment external validity tests involving observation of...
Persistent link: https://www.econbiz.de/10008488159
With the growing reliance on Stated Choice (SC) data, researchers are increasingly interested in understanding how respondents process the information presented to them in such surveys. Specifically, it has been argued that some respondents may simplify the choice tasks by consistently ignoring...
Persistent link: https://www.econbiz.de/10008488166