Easy and flexible mixture distributions

Mogens Fosgerau and Stefan Mabit

Economics Letters, 2013, vol. 120, issue 2, 206-210

Abstract: We propose a method to generate flexible mixture distributions that are useful for estimating models such as the mixed logit model using simulation. The method is easy to implement, yet it can approximate essentially any mixture distribution. We test it with good results in a simulation study and on real data.

Keywords: Mixture distributions; Mixed logit; Simulation; Maximum simulated likelihood (search for similar items in EconPapers)
JEL-codes: C14 C15 C25 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (30)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:120:y:2013:i:2:p:206-210

DOI: 10.1016/j.econlet.2013.03.050

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