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MIXED MNL MODELS FOR DISCRETE RESPONSE
 JOURNAL OF APPLIED ECONOMETRICS J. APPL. ECON. 15: 447470 (2000)
, 2000
"... This paper considers mixed, or random coefficients, multinomial logit (MMNL) models for discrete response, and establishes the following results. Under mild regularity conditions, any discrete choice model derived from random utility maximization has choice probabilities that can be approximated as ..."
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Cited by 465 (14 self)
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This paper considers mixed, or random coefficients, multinomial logit (MMNL) models for discrete response, and establishes the following results. Under mild regularity conditions, any discrete choice model derived from random utility maximization has choice probabilities that can be approximated as closely as one pleases by a MMNL model. Practical estimation of a parametric mixing family can be carried out by Maximum Simulated Likelihood Estimation or Method of Simulated Moments, and easily computed instruments are provided that make the latter procedure fairly efficient. The adequacy of a mixing specification can be tested simply as an omitted variable test with appropriately defined artificial variables. An application to a problem of demand for alternative vehicles shows that MMNL provides a flexible and computationally practical approach to discrete response analysis.
Price Formation of Fish: An Application of an Inverse Demand System
 European Economic Review
, 1989
"... Inverse demand systems explain price variations as functions of quantity variations. They have properties analogous to those of regular demand systems. There are very few examples of their empirical application. In part this is due to lack of data for which price is the decision variable and the qua ..."
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Cited by 43 (1 self)
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Inverse demand systems explain price variations as functions of quantity variations. They have properties analogous to those of regular demand systems. There are very few examples of their empirical application. In part this is due to lack of data for which price is the decision variable and the quantity given. The case of fish landed at Belgian sea ports appears to suit an inverse demand system well. A Rotterdam variant of such a system in estimated. Allais interaction intensities have been derived and show a reasonable pattern. 1.
When Is Expenditure 'Exogenous' in Separable Demand Models
"... The separability hypothesis and expenditure as an exogenous variable in a system of conditional demands are analyzed. Expenditure cannot be weakly exogenous in a system of conditional demands specified as functions of the prices of the separable goods and total expenditure on those goods. Furthermor ..."
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Cited by 31 (0 self)
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The separability hypothesis and expenditure as an exogenous variable in a system of conditional demands are analyzed. Expenditure cannot be weakly exogenous in a system of conditional demands specified as functions of the prices of the separable goods and total expenditure on those goods. Furthermore, expenditure is uncorrelated with the residuals of the conditional demand equations only when severe restrictions are satisfied. Therefore, expenditure will seldom be strictly exogenous. Econometric methods are presented for the consistent and efficient estimation of the unknown parameters when expenditure is correlated with the residuals and when it is not. Key words: conditional demand models, exogeneity, weak separability. In applied demand analysis, incomplete information is the rule and not the exception. We are always concerned with a subset of the total number of commodities that are purchased by consumers. Data limitations, finite computer memory, and the increased complexity and time required for numerical computations in large models make it necessary to abstract from a completely specified system of consumer demands containing a different equation for each of the countless goods available in the market. Three practical solutions have been proposed to deal with this problem. One approach is to aggregate across commodities and estimate a complete system of demand equations with the commodity aggregates (e.g., food, clothing, housing, transportation, entertainment, and all other goods) as functions of the corresponding set of aggregated price indices and income. This approach has at least two drawbacks. First, the conditions are quite re
Deforestation: Population or Market Driven? Different Approaches in Modellng Agricultural Expansion". Working Paper WP 1996: 9
, 1996
"... Summary: The debate on causes of and remedies for tropical deforestation is often confused because the underlying assumptions of the arguments are not made explicit. This paper compares four different modelling approaches to agricultural expansion and deforestation, and explore the implications of d ..."
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Cited by 7 (1 self)
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Summary: The debate on causes of and remedies for tropical deforestation is often confused because the underlying assumptions of the arguments are not made explicit. This paper compares four different modelling approaches to agricultural expansion and deforestation, and explore the implications of different assumptions about the household objectives, the labour market, and the property rights regime. A major distinction is made between population and market driven approaches, and the labour market assumption is critical in this respect. Many of the popular policy prescriptions are based on the population approach. The paper shows that within a more realistic particularly for the long term effects market approach, well intentioned policies such as intensification prograrnes may boost deforestation. Many frontier agricultural systems are also characterized by open access where forest clearing giv es farmers land rights. Deforestation therefore becomes an investment to the farmer and a title establishment strategy. In this situation, land titling and credit programmes may increase deforestation.
An Overview of Quasiconcavity and Its Applications in Economics,” Office of Economics working paper, U.S. International Trade Commission, http://www.usitc.gov/publications/docs/pubs/research working papers/ec9904a.pdf
, 1999
"... Economics working papers are the result of the ongoing professional research of USITC Staff and are solely meant to represent the opinions and professional research of individual authors. These papers are not meant to represent in any way the views of the U.S. International Trade Commission or any o ..."
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Cited by 1 (0 self)
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Economics working papers are the result of the ongoing professional research of USITC Staff and are solely meant to represent the opinions and professional research of individual authors. These papers are not meant to represent in any way the views of the U.S. International Trade Commission or any of its individual Commissioners. Working papers are circulated to promote the active exchange of ideas between USITC Staff and recognized experts outside the USITC, and to promote professional development of Office staff by encouraging outside professional critique of staff research. address correspondence to: Office of Economics
and the Excess Burden ⋆
"... comments on a former version of this paper. We are also grateful to participants of the following workshops and conferences for providing useful suggestions: 7 th International ..."
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comments on a former version of this paper. We are also grateful to participants of the following workshops and conferences for providing useful suggestions: 7 th International
Primed in U.S.A. STATE DEPENDENT EXPECTED UTILITY EOR SAVAGE'S STATE SPACE
"... This paper generalizes the Debreu/Gorman characterization of additively decomposable functionals and separable preferences to infinite dimensions. The first novelty concerns the very definition of additively decomposable functional for infinite dimensions. For decision under uncertainty, our result ..."
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This paper generalizes the Debreu/Gorman characterization of additively decomposable functionals and separable preferences to infinite dimensions. The first novelty concerns the very definition of additively decomposable functional for infinite dimensions. For decision under uncertainty, our result provides a statedependent extension of Savage's expected utility. A characterization in terms of preference conditions identifies the empirical content of the model; it amounts to Savage's axiom system with P4 (likelihood ordering) dropped. Our approach does not require that a (probability) measure on the state space be given a priori, or can be derived from extraneous conditions outside the realm of decision theory. Bayesian updating of new information is still possible, even though no prior probabilities are given. The finding suggests that the surething principle, rather than prior probability, is at the heart of Bayesian updating. 1. Introduction. Separability
Referendum contingent valuation, anchoring, and willingness to pay for public goods
, 1995
"... This study reports on experiments that examine anchoring in single referendum questions in contingent valuation surveys on willingness to pay for public goods, and on objective estimation. Strong anchoring effects are found that lead to systematically higher estimated mean responses from YesrNo ref ..."
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This study reports on experiments that examine anchoring in single referendum questions in contingent valuation surveys on willingness to pay for public goods, and on objective estimation. Strong anchoring effects are found that lead to systematically higher estimated mean responses from YesrNo referendum responses than from openended responses. This response pattern is similar for contingent valuation questions and for objective estimation questions. The paper concludes that psychometric anchoring effects, rather than incentive effects, are the likely cause of results commonly found in contingent valuation studies, and that the currently popular single referendum elicitation format is