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Sequential and Full Information Maximum Likelihood Estimation of a Nested Logit Model

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  • Hensher, David A
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    Abstract

    Sequential estimation of a nested logit model is in general not an empirically desirable procedure, either as an alternative to full information maximum likelihood (FIML) estimation or as a source of param eter starting values for FIML estimation. Empirical studies which use varying ch oice sets across the sampled population create ambiguity in the link between seq uential and simultaneously estimated nested logit models. FIML estimation is now a computationally feasible strategy as illustrated herein. Copyright 1986 by MIT Press.

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    Bibliographic Info

    Article provided by MIT Press in its journal Review of Economics & Statistics.

    Volume (Year): 68 (1986)
    Issue (Month): 4 (November)
    Pages: 657-67

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    Handle: RePEc:tpr:restat:v:68:y:1986:i:4:p:657-67

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    Cited by:
    1. Louis Grange & Angel Ibeas & Felipe González, 2011. "A Hierarchical Gravity Model with Spatial Correlation: Mathematical Formulation and Parameter Estimation," Networks and Spatial Economics, Springer, vol. 11(3), pages 439-463, September.
    2. Jeffrey Newman & Vincent Bernardin, 2010. "Hierarchical ordering of nests in a joint mode and destination choice model," Transportation, Springer, vol. 37(4), pages 677-688, July.
    3. Lahiri, Kajal & Gao, Jian, 2002. "Bayesian analysis of nested logit model by Markov chain Monte Carlo," Journal of Econometrics, Elsevier, vol. 111(1), pages 103-133, November.
    4. Madden, Gary & Simpson, Michel & Savage, Scott, 2002. "Broadband Delivered Entertainment Services: Forecasting Australian Subscription Intentions," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 422-32, December.
    5. Kathleen W. Johnson, 1999. "Credit constraints, consumer leasing and the automobile replacement decision," Finance and Economics Discussion Series 1999-68, Board of Governors of the Federal Reserve System (U.S.).
    6. Arauzo Carod, Josep Maria & Liviano Solís, Daniel & Manjón Antolín, Miguel C., 2008. "Empirical studies in industrial location: an assessment of their methods and results," Working Papers 2072/9257, Universitat Rovira i Virgili, Department of Economics.
    7. Lisa Cameron, 2000. "The residency decision of elderly indonesians: A nested logit analysis," Demography, Springer, vol. 37(1), pages 17-27, February.
    8. Herriges, Joseph A. & Kling, Catherine L., 1996. "Testing the Consistency of Nested Logit Models with Utility Maximization," Staff General Research Papers 1500, Iowa State University, Department of Economics.
    9. Frey, Rainer & Hussinger, Katrin, 2006. "The role of technology in M&As: a firm-level comparison of cross-border and domestic deals," Discussion Paper Series 1: Economic Studies 2006,45, Deutsche Bundesbank, Research Centre.
    10. Choi, Ki-Hong & Moon, Choon-Geol, 1997. "Generalized extreme value model and additively separable generator function," Journal of Econometrics, Elsevier, vol. 76(1-2), pages 129-140.
    11. Marisa Elena Domino & David S. Salkever, 2003. "Price elasticity and pharmaceutical selection: the influence of managed care," Health Economics, John Wiley & Sons, Ltd., vol. 12(7), pages 565-586.
    12. BARRIOS, Salvador & GORG, Holger & STROBL, Eric, 2003. "Multinationals' location choice, agglomeration economies and public incentives," CORE Discussion Papers 2003017, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    13. Kaoru, Yoshiaki, 1995. "Measuring marine recreation benefits of water quality improvements by the nested random utility model," Resource and Energy Economics, Elsevier, vol. 17(2), pages 119-136, August.
    14. Murdock, Jennifer, 2006. "Handling unobserved site characteristics in random utility models of recreation demand," Journal of Environmental Economics and Management, Elsevier, vol. 51(1), pages 1-25, January.

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