Standard and Shuffled Halton Sequences in a Mixed Logit Model
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 multi-dimensional integrals which can not be solved analytically. Simulation methods have been developed to approximate a solution for these integrals. This paper describes the Standard Halton sequence and a modification of it, the Shuffled Halton sequence. Both are simulation methods which can reduce computational effort compared to a random sequence. We compare the simulation methods in their coverage of the multi-dimensional area and in their estimation results using data of consumer choice on grocery store formats.
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| Date of creation: | Sep 2008 |
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| Handle: | RePEc:ags:uhgewp:93856 |
| Contact details of provider: | Postal: D-70593 Stuttgart Phone: 0711-459-22488 Fax: 0711 459-22785 Web page: http://marktlehre.uni-hohenheim.de/ Email: More information through EDIRC
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- Sándor, Z. & Train, K., 2004.
"Quasi-random simulation of discrete choice models,"
Econometric Institute Research Papers
EI 2004-51, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
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- David Revelt & Kenneth Train, 1998. "Mixed Logit With Repeated Choices: Households' Choices Of Appliance Efficiency Level," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 647-657, November.
- Arne Risa Hole, 2007. "Fitting mixed logit models by using maximum simulated likelihood," Stata Journal, StataCorp LP, vol. 7(3), pages 388-401, September.
- Bhat, Chandra R., 2003. "Simulation estimation of mixed discrete choice models using randomized and scrambled Halton sequences," Transportation Research Part B: Methodological, Elsevier, vol. 37(9), pages 837-855, November.
- 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.
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