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| Author: | Horowitz, J. |
| Title: | Advances in random utility models |
| Journal: | Marketing Letters
1994 : OCT, VOL. 5:4, p. 311-322 |
| Index terms: | SIMULATION ESTIMATION PROBIT MODELS |
| Language: | eng |
| Abstract: | In recent years, major advances have taken place in three areas of random utility modeling: semiparametric estimation; computational methods for multinomial probit models; and computational methods for Bayesian estimation. This paper summarizes these developments and discusses their implications for practice. Random utility models aim at modeling the choices of individuals among discrete sets of alternatives. Utility is a random variable in a random utility model. |
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