On consistency of the MACML approach to discrete choice modelling

Manuel Batram and Dietmar Bauer

Journal of choice modelling, 2019, vol. 30, issue C, 1-16

Abstract: In this paper the properties of the maximum approximate composite marginal likelihood (MACML) approach to the estimation of multinomial probit models (MNP) proposed by Chandra Bhat and coworkers is investigated with respect to asymptotic properties. It is shown that, if the choice proportions are normalized to sum to one, a variant of the method provides consistent estimates of the choice proportions for a number of approximation methods.

Keywords: Multinomial probit; Discrete choice model; MACML estimation approach; Estimation method; Monte Carlo experiment (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eejocm:v:30:y:2019:i:c:p:1-16

DOI: 10.1016/j.jocm.2018.10.001

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