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文章基本信息

  • 标题:Shape shifters: simple asymmetric mixing densities for mixed logit models
  • 作者:Thijs Dekker a ; John M. Rose b
  • 期刊名称:IVM Working Papers / Institute for Environmental Studies, Amsterdam
  • 出版年度:2011
  • 卷号:2011
  • 出版社:Amsterdam
  • 摘要:The choice of the mixing density in random parameter logit models remains a complex issue. Frequently, trade-offs need to be made between ease of estimation, shape flexibility and behavioural relevance. We contrast a set of alternative distributions, including the asymmetric triangular, in a choice experiment on flood risk exposure and estimate our models in a Bayesian WTP-space framework. Results show that the triangular distribution can be applied, but is outperformed by the lognormal distribution in terms of model fit. The Gibbs Sampler reveals that simple distributional forms are not likely to be consistent with the underlying distribution of preferences.
  • 关键词:Mixed logit, Random parameters, Bayesian estimation, Marginal likelihood, WTP-space, Flood risk valuation
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