Non-linear mixed logit

• We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters. Classic applications include the estimation of coefficients of utility functions to characterize risk attitudes and discounting functions to characterize impatience. There are several unexpected benefits of this extension, apart from the ability to directly estimate structural parameters of theoretical interest.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business (hsv//eng)

Nyckelord

Behavioral econometrics

Lottery choices

Mixed logit

Random coefficients

Risk attitudes

Structural estimation

Risk attitude

Estimation

Functions

Mathematical models

Risk perception

Publikations- och innehållstyp

ref (ämneskategori)

art (ämneskategori)