IDEAS home Printed from https://ideas.repec.org/p/ehl/lserod/85703.html
   My bibliography  Save this paper

Parameter estimation for generalized thurstone choice models

Author

Listed:
  • Vojnovic, Milan
  • Yun, Seyoung

Abstract

We consider the maximum likelihood parameter estimation problem for a generalized Thurstone choice model, where choices are from comparison sets of two or more items. We provide tight characterizations of the mean square error, as well as necessary and sufficient conditions for correct classification when each item belongs to one of two classes. These results provide insights into how the estimation accuracy depends on the choice of a generalized Thurstone choice model and the structure of comparison sets. We find that for a priori unbiased structures of comparisons, e.g., when comparison sets are drawn independently and uniformly at random, the number of observations needed to achieve a prescribed estimation accuracy depends on the choice of a generalized Thurstone choice model. For a broad set of generalized Thurstone choice models, which includes all popular instances used in practice, the estimation error is shown to be largely insensitive to the cardinality of comparison sets. On the other hand, we found that there exist generalized Thurstone choice models for which the estimation error decreases much faster with the cardinality of comparison sets.

Suggested Citation

  • Vojnovic, Milan & Yun, Seyoung, 2016. "Parameter estimation for generalized thurstone choice models," LSE Research Online Documents on Economics 85703, London School of Economics and Political Science, LSE Library.
  • Handle: RePEc:ehl:lserod:85703
    as

    Download full text from publisher

    File URL: http://eprints.lse.ac.uk/85703/
    File Function: Open access version.
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Stern, Hal, 1992. "Are all linear paired comparison models empirically equivalent?," Mathematical Social Sciences, Elsevier, vol. 23(1), pages 103-117, February.
    2. -, 1978. "Procesamiento de los datos censales," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 32269, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Baker, Rose D. & McHale, Ian G., 2014. "A dynamic paired comparisons model: Who is the greatest tennis player?," European Journal of Operational Research, Elsevier, vol. 236(2), pages 677-684.
    2. Éva Orbán-Mihálykó & Csaba Mihálykó & László Koltay, 2019. "Incomplete paired comparisons in case of multiple choice and general log-concave probability density functions," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 27(2), pages 515-532, June.
    3. Chan Victor, 2011. "Prediction Accuracy of Linear Models for Paired Comparisons in Sports," Journal of Quantitative Analysis in Sports, De Gruyter, vol. 7(3), pages 1-35, July.
    4. Vincent Buskens & Jeroen Weesie, 2000. "An Experiment On The Effects Of Embeddedness In Trust Situations," Rationality and Society, , vol. 12(2), pages 227-253, May.
    5. Mark Glickman, 2001. "Dynamic paired comparison models with stochastic variances," Journal of Applied Statistics, Taylor & Francis Journals, vol. 28(6), pages 673-689.
    6. Karpov, Alexander, 2015. "A theory of knockout tournament seedings," Working Papers 0600, University of Heidelberg, Department of Economics.

    More about this item

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ehl:lserod:85703. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: LSERO Manager (email available below). General contact details of provider: https://edirc.repec.org/data/lsepsuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.