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

Research output: Journal contributionsJournal articlesResearchpeer-review

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.

Original languageEnglish
JournalJournal of Applied Econometrics
Volume32
Issue number2
Pages (from-to)470-476
Number of pages7
ISSN0883-7252
DOIs
Publication statusPublished - 01.03.2017
Externally publishedYes

DOI

Recently viewed

Publications

  1. Robust decoupling through algebraic output feedback in manipulation systems
  2. Some model properties to control a permanent magnet machine using a controlled invariant subspace
  3. Using augmented video to test in-car user experiences of context analog HUDs
  4. Data-Driven flood detection using neural networks
  5. Primary Side Circuit Design of a Multi-coil Inductive System for Powering Wireless Sensors
  6. Invariant subspaces for grasping internal forces and non-interacting force-motion control in robotic manipulation
  7. Lagged Multidimensional Recurrence Quantification Analysis for Determining Leader–Follower Relationships Within Multidimensional Time Series
  8. Effective informational entropy reduction in multi-robot systems based on real-time TVS
  9. Comparison of different FEM codes approach for extrusion process analysis
  10. Perception and Inference
  11. Positioning Improvement for a Laser Scanning System using cSORPD control
  12. Resource extraction technologies - is a more responsible path of development possible?
  13. Towards an Interoperable Ecosystem of AI and LT Platforms: A Roadmap for the Implementation of Different Levels of Interoperability
  14. How Much Home Office is Ideal? A Multi-Perspective Algorithm
  15. Machine Learning and Knowledge Discovery in Databases
  16. A cascade controller structure using an internal PID controller for a hybrid piezo-hydraulic actuator in camless internal combustion engines
  17. Restricted nonlinear approximation and singular solutions of boundary integral equations
  18. Model-based logistic controlling of converging material flows