Non-Linear Mixed Logit

Steffen Andersen, Glenn Harrison, Arne Hole and Elisabet Rutstrom

No 04-2010, Working Papers from Copenhagen Business School, Department of Economics

Abstract: We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters. A classic application is the estimation of coefficients of utility functions to characterize risk attitudes. There are several unexpected benefits of this extension, apart from the ability to directly estimate structural parameters of theoretical interest.

Keywords: utility functions; risk attitudes; utility theory (search for similar items in EconPapers)
JEL-codes: C10 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2010-04-01
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Non-linear mixed logit (2012)
Working Paper: Non-Linear Mixed Logit (2011)
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