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Non-linear mixed logit
Department of Economics, Copenhagen Business School, Copenhagen, Denmark.
Department of Risk Management and Insurance and CEAR, Robinson College of Business, Georgia State University, Atlanta GA, United States.
Department of Economics, University of Sheffield, Sheffield, United Kingdom.
Durham Business School, Durham University, Durham, United Kingdom.
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2012 (English)In: Theory and Decision, ISSN 0040-5833, E-ISSN 1573-7187, Vol. 73, no 1, p. 77-96Article in journal (Refereed) Published
Abstract [en]

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.

Place, publisher, year, edition, pages
Springer Nature , 2012. Vol. 73, no 1, p. 77-96
Keywords [en]
Behavioral econometrics, Lottery choices, Mixed logit, Random coefficients, Risk attitudes, Structural estimation, Risk attitude, Estimation, Functions, Mathematical models, Risk perception
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:oru:diva-68855DOI: 10.1007/s11238-011-9277-0ISI: 000305225000005Scopus ID: 2-s2.0-84861968654OAI: oai:DiVA.org:oru-68855DiVA, id: diva2:1247341
Available from: 2018-09-11 Created: 2018-09-11 Last updated: 2018-09-13Bibliographically approved

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Rutström, Elisabet

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