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This paper proposes a multivariate ordered-response system framework to model the interactions in non-work activity episode decisions across household and non-household members at the level of activity generation. Such interactions in activity decisions across household and non-household members...
Persistent link: https://www.econbiz.de/10008868390
This study proposes a simple and practical Composite Marginal Likelihood (CML) inference approach to estimate ordered-response discrete choice models with flexible copula-based spatial dependence structures across observational units. The approach is applicable to data sets of any size, provides...
Persistent link: https://www.econbiz.de/10008868435
The likelihood functions of multinomial probit (MNP)-based choice models entail the evaluation of analytically-intractable integrals. As a result, such models are usually estimated using maximum simulated likelihood (MSL) techniques. Unfortunately, for many practical situations, the...
Persistent link: https://www.econbiz.de/10009143138
This paper evaluates the ability of the maximum approximate composite marginal likelihood (MACML) estimation approach to recover parameters from finite samples in mixed cross-sectional and panel multinomial probit models. Comparisons with the maximum simulated likelihood (MSL) estimation...
Persistent link: https://www.econbiz.de/10009143140
This monograph presents the basics of the composite marginal likelihood (CML) inference approach, discussing the asymptotic properties of the CML estimator and the advantages and limitations of the approach. The composite marginal likelihood (CML) inference approach is a relatively simple...
Persistent link: https://www.econbiz.de/10010801058
In the context of panel ordered-response structures, the current paper compares the performance of the maximum-simulated likelihood (MSL) inference approach and the composite marginal likelihood (CML) inference approach. The panel structures considered include the pure random coefficients (RC)...
Persistent link: https://www.econbiz.de/10010703062
The current study contributes to the existing injury severity modeling literature by developing a multivariate probit model of injury severity and seat belt use decisions of both drivers involved in two-vehicle crashes. The modeling approach enables the joint modeling of the injury severity of...
Persistent link: https://www.econbiz.de/10010662579
Multiple-discrete continuous choice models formulated and applied in recent years consider a single linear resource constraint, which, when combined with consumer preferences, determines the optimal consumption point. However, in reality, consumers face multiple resource constraints such as...
Persistent link: https://www.econbiz.de/10011065516