The problem of designing a system for optimal operational control of random deviations in the productivity of technological equipment is considered. The synthesized control ensures the synchronization of the productivity of the technological equipment of the production line and asymptotic...

Modelling complex economic systems is an effective method of research. The widespread class is formed by economic systems in which the determined character of observable processes is combined with their stochastic nature. Laws which are observed in systems of economic exchange, in many respects...

In this paper we use mixed logit specifications to allow parameters to vary in the population when estimating the value of time for long-distance car travel.

Modeling consumer choice in different areas has lead to an increase use of discrete choice models. Probit or Multinomial Logit Models are often the base of further empirical research of consumer choice. In some of these models the equations to solve have no closed-form expression. They include...

This paper develops a simulation estimation algorithm that is particularly useful for estimating dynamic panel data models with unobserved endogenous state variables. The new approach can easily deal with the commonly encountered and widely discussed initial conditions problem, as well as the...

The paper compares two approaches to the estimation of panel probit models: the Generalized Method of Moments (GMM) and the Simulated Maximum Likelihood (SML) technique. Both have in common that they circumvent multiple integrations of joint density functions without the need to impose...

Discrete Choice Experiments (DCEs) designed to estimate willingness-to-pay (WTP) values are very popular in health economics. With increased computation power and advanced simulation techniques, random-coefficient models have gained an increasing importance in applied work as they allow for...

We develop an algorithm that incorporates network information into regression settings. It simultaneously estimates the covariate coefficients and the signs of the network connections (i.e. whether the connections are of an activating or of a repressing type). For the coefficient estimation...