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Differences Between Classical and Bayesian Estimates for Mixed Logit Models: A Replication Study

Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet

Authors

  • Ossama Elshiewy
  • German Zenetti
  • Yasemin Boztug

The mixed logit model is widely used in applied econometrics. Researchers typically rely on the free choice between the classical and Bayesian estimation approach. However, empirical evidence of the similarity of their parameter estimates is sparse. The presumed similarity is mainly based on one empirical study that analyzes a single dataset (Huber J, Train KE. 2001. On the similarity of classical and Bayesian estimates of individual mean partworths. Marketing Letters12(3): 259–269). Our replication study offers a generalization of their results by comparing classical and Bayesian parameter estimates from six additional datasets and specifically for panel versus cross-sectional data. In general, our results suggest that the two methods provide similar results, with less similarity for cross-sectional data than for panel data.

OriginalspracheEnglisch
ZeitschriftJournal of Applied Econometrics
Jahrgang32
Ausgabenummer2
Seiten (von - bis)470-476
Anzahl der Seiten7
ISSN0883-7252
DOIs
PublikationsstatusErschienen - 01.03.2017
Extern publiziertJa

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Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet

DOI

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