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Persistent link: https://www.econbiz.de/10008934919
This paper examines two tests commonly used to select random parameters in choice modelling: the Lagrange Multiplier (LM) test as proposed by McFadden and Train (2000) and the t-statistic of the deviation of the random parameter. A simulation exercise based on a real case study is carried out...
Persistent link: https://www.econbiz.de/10010703060