Econometric Modelling: Basics

Petr Mariel, David Hoyos, Jürgen Meyerhoff, Mikolaj Czajkowski, Thijs Dekker (), Klaus Glenk, Jette Bredahl Jacobsen (), Ulf Liebe (), Søren Olsen, Julian Sagebiel () and Mara Thiene ()
Additional contact information
Thijs Dekker: University of Leeds
Jette Bredahl Jacobsen: University of Copenhagen
Ulf Liebe: University of Warwick
Julian Sagebiel: Swedish University of Agricultural Sciences
Mara Thiene: University of Padua

Chapter Chapter 5 in Environmental Valuation with Discrete Choice Experiments, 2021, pp 61-81 from Springer

Abstract: Abstract This chapter addresses basic topics related to choice data analysis. It starts by describing the coding of attribute levels and choosing the functional form of the attributes in the utility function. Next, it focuses on econometric models with special attention devoted to the random parameter mixed logit model. In this context, the chapter compares different coefficient distributions to be used, addresses specifics of the cost attribute coefficient and it pays attention to potential correlations between random coefficients. Finally, topics related to the estimation procedure such as assuring its convergence or random draws are discussed.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-030-62669-3_5

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DOI: 10.1007/978-3-030-62669-3_5

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