Kenneth Train

University of California, Berkeley

United States

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Kenneth Train created these companion sites

Mixed Logit with Repeated Choices: Households' Choices of Appliance Efficiency Level
Abstract
Mixed logit models, also called random-parameters or error-components logit, are a generalization of standard logit that do not exhibit the restrictive "independence from irrelevant alternatives" property and explicitly account for correlations in unobserved utility over repeated choices by each customer. Mixed logits are estimated for households’ choices of appliances under utility-sponsored programs that offer rebates or loans on high-efficiency appliances.
Train, K., "Mixed Logit with Repeated Choices: Households' Choices of Appliance Efficiency Level", The Review of Economics and Statistics, 80, 647-657.
Authors: Revelt
Train
Coders: Train
Last update
06/05/2012
Ranking
7
Runs
6
Visits
243
Mixed Logit with Bounded Distributions of Correlated Partworths
Abstract
The use of a joint normal distribution for partworths is computationally attractive, particularly with Bayesian MCMC procedures, and yet is unrealistic for any attribute whose partworth is logically bounded (e.g., is necessarily positive or cannot be unboundedly large). A mixed logit is specified with partworths that are transformations of normally distributed terms, where the transformation induces bounds; examples include censored normals, log-normals, and SB distributions which are bounded on both sides. The model retains the computational advantages of joint normals while providing greater flexibility for the distributions of correlated partworths. The method is applied to data on customers’ choice among vehicles in stated choice experiments. The flexibility that the transformations allow is found to greatly improve the model, both in terms of fit and plausibility, without appreciably increasing the computational burden.
Train, K., "Mixed Logit with Bounded Distributions of Correlated Partworths ", Applications of Simulation Methods in Environmental Resource Economics , Chapter 7.
Authors: Sonnier
Train
Coders: Train
Last update
07/10/2012
Ranking
4
Runs
9
Visits
268