This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Taste Variation in Discrete Choice Models

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Chesher, Andrew
Santos Silva, J M C

Additional information is available for the following registered author(s):

Abstract

This paper develops an extension of the classical multinomial logit model which approximates a class of models obtained when there is uncontrolled taste variation across agents and choices in addition to the stochastic noise inherent in the logit model. Unlike semiparametric and parametric alternatives, the extended logit model is easy to estimate even when there are many potential choices. Unlike parametric alternatives, it does not require the specification of a distribution of varying tastes. The extended logit model can give a quick indication of the impact of taste variation on estimates and it generates estimates of the covariances of the taste shifters. It can be used as an exploratory device en route to the construction of a model incorporating a particular form of random taste variation and it can be used to determine whether such effort is required at all. When the amount of taste variation is not excessive the approximate model can be adequate itself. The model nests the conventional logit model which leads to a misspecification diagnostic. A method for estimating the model using conventional logit model software is proposed, asymptotic properties of estimators are derived and an application is presented. Copyright 2002 by The Review of Economic Studies Limited

Download Info
To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Publisher Info
Article provided by Blackwell Publishing in its journal Review of Economic Studies.

Volume (Year): 69 (2002)
Issue (Month): 1 (January)
Pages: 147-68
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:bla:restud:v:69:y:2002:i:1:p:147-68

Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0034-6527

Order Information:
Web: http://www.blackwellpublishing.com/subs.asp?ref=0034-6527

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carlos Pestana Barros & Rui Cunha Marques, 2008. "Performance of European Airports: Regulation, Ownership and Managerial Efficiency," Working Papers 2008/25, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  2. J.M.C. Santos Silva, 2004. "Deriving welfare measures in discrete choice experiments: a comment to Lancsar and Savage (2)," Health Economics, John Wiley & Sons, Ltd., vol. 13(9), pages 913-918. [Downloadable!]
  3. Jia, Zhiyang, 2003. "A Mixture Model of Household Retirement Choice," Memorandum 04/2003, Oslo University, Department of Economics. [Downloadable!]
  4. Carlos Pestana Barros & Antónia Correia, 2007. "Survival Analysis in Tourism Demand: The length of stay in Latin American destinations," Working Papers 2007/03, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  5. Carlos Barros & Isabel Proenca & Jose Cabral Vieira, 2005. "Low-wage employment in Portugal: a mixed logit approach," Labor and Demography 0508001, EconWPA. [Downloadable!]
    Other versions:
  6. Carlos Pestana Barros & Marilena Vecco & Victor Blanco, 2008. "Addiction At the Biennale of Venice," Working Papers 2008/14, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  7. Chomitz, Kenneth M. & Setiadi, Gunawan & Azwar, Azrul & Ismail, Nusye & Widiyarti, 1998. "What do doctors want? developing incentives for doctors to serve in Indonesia's rural and remote areas," Policy Research Working Paper Series 1888, The World Bank. [Downloadable!]
  8. Dragana Djurdjevic, 2003. "Unemployment and under-employment: the case of Switzerland," University of St. Gallen Department of Economics working paper series 2003 2003-18, Department of Economics, University of St. Gallen. [Downloadable!]
    Other versions:
  9. Carlos Pestana Barros, 2008. "Identification of Segments of Thermo Energy Plants with a Latent Class Model," Working Papers 2008/11, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
    Other versions:
  10. Denis Beninger & François Laisney, 2006. "On the performance of unitary models of household labor supply estimated on “collective” data with taxation," Cahiers d'Economie et Sociologie Rurales, INRA Department of Economics, vol. 81, pages 5-36. [Downloadable!]
  11. Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470. [Downloadable!]
  12. Chiara Monfardini & J.M.C. Santos Silva, 2008. "What can we learn about correlations from multinomial probit estimates?," Economics Bulletin, Economics Bulletin, vol. 3(28), pages 1-9. [Downloadable!]
    Other versions:
  13. repec:ese:iserwp: is not listed on IDEAS
  14. Carlos Pestana Barros & Jean-Pascal Guironnet & Nicolas Peypoch & William Roy, 2008. "Heterogeneity in Technical Efficiency of the French Urban Transport: 1995 to 2002," Working Papers 2008/17, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  15. Laisney, François & Beninger, Denis, 2002. "Comparison between unitary and collective models of household labor supply with taxation," ZEW Discussion Papers 02-65, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  16. Arne Risa Hole, 2007. "Modelling Heterogeneity in Patients' Preferences for the Attributes of a General Practitioner Appointment," Working Papers 022cherp, Centre for Health Economics, University of York. [Downloadable!]
    Other versions:
  17. Andrew Chesher, 2005. "Identification with excess heterogeneity," CeMMAP working papers CWP19/05, Centre for Microdata Methods and Practice, Institute for Fiscal Studies. [Downloadable!]
  18. Carlos Pestana Barros & Peter Dieke, 2008. "Choice Valuation of Traffic Restrictions: Perspectives on Noise, Pollution and Congestion Preferences," Working Papers 2008/08, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
Statistics
Access and download statistics

Did you know? The most prolific authors have over 700 items listed on IDEAS.

This page was last updated on 2009-11-22.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.