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Functional Specification of Discrete Choice Models
The Nested Multinominal Logit Model
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aggregate analysis application attributes Borsch-Supan Chapter characteristics choice based sampling choice probabilities choice sequences choice set computational conditional consumer correlation covariates cross-sectional cumulative distribution function current income decision tree denoted density function dependent variable deterministic utility components differences discrete choice models dissimilarity coefficients dissimilarity parameters distribution function dwelling econometric economic explanatory variables extreme value distribution FEMNL Figure fixed effects hedonic regressions homeownership household formation housing alternatives housing choices housing consumption housing demand housing market housing prices Housing Survey likelihood function loglikelihood market shares maximum likelihood McFadden measure multinomial logit model nested multinomial logit nesting structure NMNL model nonlinear number of alternatives number of rooms observed owner-occupied panel data pattern percent PERMANENT INCOME ESTIMATION predicted PSID random effects model rent renters Section sequential estimation single-family statistical stochastic utility maximization structure type subsample subset Table tenure choice Theorem United user-cost utility function West Germany Young Singles