Advances in Random Utility Models
Michael Keane (),
Peter Rossi () and
MPRA Paper from University Library of Munich, Germany
In recent years, major advances have taken place in three areas of random utility modeling: (1) semiparametric estimation, (2) computational methods for multinomial probit models, and (3) computational methods for Bayesian stimation. This paper summarizes these developments and discusses their implications for practice.
Keywords: multinomial probit; semiparametric estimation; Bayesian estimation; simulation (search for similar items in EconPapers)
JEL-codes: C11 C14 C15 C25 C35 M31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:53026
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