Differences Between Classical and Bayesian Estimates for Mixed Logit Models: A Replication Study
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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Differences Between Classical and Bayesian Estimates for Mixed Logit Models : A Replication Study. / Elshiewy, Ossama; Zenetti, German; Boztug, Yasemin.
in: Journal of Applied Econometrics, Jahrgang 32, Nr. 2, 01.03.2017, S. 470-476.Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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TY - JOUR
T1 - Differences Between Classical and Bayesian Estimates for Mixed Logit Models
T2 - A Replication Study
AU - Elshiewy, Ossama
AU - Zenetti, German
AU - Boztug, Yasemin
PY - 2017/3/1
Y1 - 2017/3/1
N2 - 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.
AB - 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.
KW - Management studies
UR - http://www.scopus.com/inward/record.url?scp=84995691228&partnerID=8YFLogxK
U2 - 10.1002/jae.2513
DO - 10.1002/jae.2513
M3 - Journal articles
AN - SCOPUS:84995691228
VL - 32
SP - 470
EP - 476
JO - Journal of Applied Econometrics
JF - Journal of Applied Econometrics
SN - 0883-7252
IS - 2
ER -