Empirical Investigation of the Consistency of Nested Logit Models with Utility Maximization (An)
AbstractGlobal conditions under which nested logit models are consistent with utility maximization are provided by Daly and Zachary and by McFadden. Recently, Borsch-Supan and Herriges and Kling have provided conditions under which a nested logit model is locally consistent. However, previous work has not discussed implementation of these conditions. Here, three alternative approaches to checking and formally testing for the consistency conditions using classical statistics are investigated. In addition, a Bayesian approach to interpreting and imposing the local consistency conditions is provided. The application is based on anglers' choices regarding sportfishing alternatives in southern California. Key words: discrete choice models, environmental valuation, nested logit models, recreation demand.
Download InfoTo 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.
Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 1499.
Date of creation: 01 Jan 1995
Date of revision:
Publication status: Published in American Journal of Agricultural Economics, January 1995, vol. 77 no. 4, pp. 875-884
Contact details of provider:
Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Bente Halvorsen, 2000. "Comparing Ranking and Contingent Valuation for Valuing Human Lives, Applying Nested and Non-Nested Logit Models," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 17(1), pages 1-19, September.
- Kajal Lahiri & Jian Gao, 2001.
"Bayesian Analysis of Nested Logit Model by Markov Chain Monte Carlo,"
01-14, University at Albany, SUNY, Department of Economics.
- 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.
- van Bueren, Martin & Bennett, Jeffrey W., 2004.
"Towards the development of a transferable set of value estimates for environmental attributes,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 48(1), March.
- van Bueren, Martin & Bennett, Jeffrey W., 2001. "Towards the development of a transferable set of value estimates for environmental attributes," 2001 Conference (45th), January 23-25, 2001, Adelaide 125993, Australian Agricultural and Resource Economics Society.
- Gil-Molto, Maria Jose & Hole, Arne Risa, 2004.
"Tests for the consistency of three-level nested logit models with utility maximization,"
Elsevier, vol. 85(1), pages 133-137, October.
- María José Gil-Moltó & Arne Risa Hole, 2003. "Tests for the consistency of three-level nested logit models with utility maximization," Econometrics 0312001, EconWPA, revised 08 Jan 2004.
- Maria Jos� Gil-Molt� & Arne Risa Hole, 2003. "Tests for the consistency of three-level nested logit models with utility maximization," Discussion Paper Series, Department of Economics 200313, Department of Economics, University of St. Andrews.
- Martin, Elliot William, 2009. "New Vehicle Choices, Fuel Economy and Vehicle Incentives: An Analysis of Hybrid Tax Credits and Gasoline Tax," University of California Transportation Center, Working Papers qt6sz198c2, University of California Transportation Center.
- Martin, Elliott William, 2009. "New Vehicle Choice, Fuel Economy and Vehicle Incentives: An Analysis of Hybrid Tax Credits and the Gasoline Tax," University of California Transportation Center, Working Papers qt5gd206wv, University of California Transportation Center.
- Schwabe, Kurt A. & Schuhmann, Peter W., 1999. "The Value Of Increasing The Length Of Deer Season In Ohio," 1999 Annual meeting, August 8-11, Nashville, TN 21574, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Kurt Schwabe & Peter Schuhmann & Roy Boyd & Khosrow Doroodian, 2001. "The Value of Changes in Deer Season Length: An Application of the Nested Multinomial Logit Model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(2), pages 131-147, June.
- W. Shaw & Michael Ozog, 1999. "Modeling Overnight Recreation Trip Choice: Application of a Repeated Nested Multinomial Logit Model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 13(4), pages 397-414, June.
- Dean, Judith M. & Lovely, Mary E. & Wang, Hua, 2005.
"Are foreign investors attracted to weak environmental regulations? Evaluating the evidence from China,"
Policy Research Working Paper Series
3505, The World Bank.
- Dean, Judith M. & Lovely, Mary E. & Wang, Hua, 2009. "Are foreign investors attracted to weak environmental regulations? Evaluating the evidence from China," Journal of Development Economics, Elsevier, vol. 90(1), pages 1-13, September.
- Newbold, Stephen C. & Massey, D. Matthew, 2010. "Recreation demand estimation and valuation in spatially connected systems," Resource and Energy Economics, Elsevier, vol. 32(2), pages 222-240, April.
- repec:ags:mareec:28078 is not listed on IDEAS
- Koppelman, Frank S. & Wen, Chieh-Hua, 1998. "Alternative nested logit models: structure, properties and estimation," Transportation Research Part B: Methodological, Elsevier, vol. 32(5), pages 289-298, June.
- Matilde P. Machado, & Ricardo Mora & Antonio Romero- Medina, 2006. "A Methodology To Measure Hospital Quality Using Physicians' Choices Over Training Vacancies," Economics Working Papers we060201, Universidad Carlos III, Departamento de Economía.
- Machado, Matilde Pinto & Mora, Ricardo & Romero-Medina, Antonio, 2008.
"Can We Measure Hospital Quality from Physicians' Choices?,"
CEPR Discussion Papers
6850, C.E.P.R. Discussion Papers.
- Matilde P. Machado & Ricardo Mora & Antonio Romero-Medina, 2012. "Can We Infer Hospital Quality From Medical Graduates’ Residency Choices?," Journal of the European Economic Association, European Economic Association, vol. 10(6), pages 1400-1424, December.
- Chen, Anning, 2011. "Reliable GPS Integer Ambiguity Resolution," University of California Transportation Center, Working Papers qt9gs0t2f9, University of California Transportation Center.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephanie Bridges) The email address of this maintainer does not seem to be valid anymore. Please ask Stephanie Bridges to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.