Dollars or Cents: Impacts of Rescaling Data on a Mixed Logit Model with Normally and Lognormally Distributed Coefficients

Wuyang Hu

No 24108, Staff Paper Series from University of Alberta, Department of Resource Economics and Environmental Sociology

Abstract: It is a common practice to rescale data to assist the model estimation process. This paper describes a case where care is called upon when interpreting the results after rescaling. The case is shown as associated with the lognormally distributed coefficient in a mixed logit model. Implications of rescaling data on a normally distributed coefficient are also given for comparison.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Pages: 12
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ualbsp:24108

DOI: 10.22004/ag.econ.24108

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