Bayesian inference and model comparison for ramdom choice structures
We complete the development of a testing ground for axioms of discrete stochastic choice. Our contribution here is to develop new posterior simulation methods for Bayesian inference, suitable for a class of prior distributions introduced by McCausland and Marley (2013). These prior distributions are joint distributions over various choice distributions over choice sets of different sizes. Since choice distributions over different choice sets can be mutually dependent, previous methods relying on conjugate prior distributions do not apply. We demonstrate by analyzing data from a previously reported experiment and report evidence for and against various axioms.
|Date of creation:||2013|
|Contact details of provider:|| Postal: CP 6128, Succ. Centre-Ville, Montréal, Québec, H3C 3J7|
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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.:
- Geweke, John, 1989. "Bayesian Inference in Econometric Models Using Monte Carlo Integration," Econometrica, Econometric Society, vol. 57(6), pages 1317-1339, November.
- Dagsvik, John K, 1994. "Discrete and Continuous Choice, Max-Stable Processes, and Independence from Irrelevant Attributes," Econometrica, Econometric Society, vol. 62(5), pages 1179-1205, September.
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