Palgrave Handbook of Econometrics: Applied Econometrics

532 Discrete Choice Modeling finesses the incidental parameters problem – the estimator ofβin this model is consistent. This is ...

William Greene 533 0 0 2788 6678 Frequency 8864 Histogram for Variable DocVis 2 4 6 8 10 12 14 16 18 20 DocVis 22 24 26 28 30 32 ...

534 Discrete Choice Modeling Table 11.7 Estimated pooled models for DocVis (standard errors in parentheses) Variable Poisson Geo ...

William Greene 535 comparing the different negative binomial models, note that NB2 is the worst of the three by the likelihood f ...

536 Discrete Choice Modeling health care system and a process that generates the count when they do. Nonethe- less, there is lit ...

537 Table 11.9 Estimated panel data models for doctor visits (standard errors in parentheses) Variable Poisson Negative binomial ...

538 Discrete Choice Modeling The earlier assumptions are extended as well. The axioms of choice will imply that preferences are ...

William Greene 539 The multinomial logit specification implies the peculiar restriction that ∂ln Prob(choice=j) ∂xi.m =[ 1 (j=m) ...

540 Discrete Choice Modeling 11.7.2 Nested logit models The nested logit model allows for the grouping of alternatives into “nes ...

William Greene 541 whereIis the inclusive value for the model: I=log ∑ s exp[λs(z′iδs+Js)]. The original MNL results if the incl ...

542 Discrete Choice Modeling whereτB|LR,σL|RandφRare parameters in the MNL probabilities. The marginal effect is: ∂P(j,b,l,r)/∂x ...

William Greene 543 (e.g., Revelt and Train, 1998, and, especially, McFadden and Train, 2000) for this model. The choice-specific ...

544 Discrete Choice Modeling 11.7.4 Application The multinomial choice models are illustrated with a well-known data survey of c ...

William Greene 545 for all observations, in each of the four choices. The right-hand side reports the same statistics for the ob ...

546 Discrete Choice Modeling Table 11.11 Estimated multinomial choice models (standard errors in parentheses) MNL MNPa NL (1)b N ...

William Greene 547 It is difficult to obtain a precise interpretation of the coefficients in the utility functions. The elastici ...

548 Discrete Choice Modeling are well established. Ongoing contemporary theoretical research is largely focused on less parametr ...

William Greene 549 See, as well, Hsiao (2003) for a survey of dynamic panel data models and other applica- tions by van Doorsla ...

550 Discrete Choice Modeling Allison, P. (2000) Problems with fixed-effects negative binomial models. Manuscript, Department of ...

William Greene 551 Cecchetti, S. (1986) The frequency of price adjustment: a study of the newsstand prices of magazines.Journal ...