PPT-Choice Modeling Externalities:

A Conjoint Analysis of Transportation Fuel Preferences Matthew Winden and TC Haab PhD Agricultural Environmental and Development Economics The Ohio State University Outline Motivation . William Greene. Stern School of Business. New York University. Part 7-1. Latent Class Models. Discrete Parameter Heterogeneity. Latent Classes. Latent Class Probabilities. Ambiguous – Classical Bayesian model?. William Greene. Stern School of Business. New York University. Part 5. Multinomial Logit Extensions. What’s Wrong with the MNL Model?. I. .I.D. .  IIA . Independence from irrelevant alternatives. University of Texas at Austin. Chandra R. . Bhat. Introduction: . Choice Modeling. A set of tools to predict the choice behavior of a group of decision-makers in a specific choice context.. Picture Reference: Future and Simple-Choice Modeling (by Steve Cook and Michael McGee). William Greene. Stern School of Business. New York University. 0 Introduction. 1 . Summary. 2 Binary Choice. 3 Panel Data. 4 Bivariate Probit. 5 Ordered Choice. 6 Count Data. 7 Multinomial Choice. 8 Nested Logit. William Greene. Stern School of Business. New York University. Part 6. Modeling Heterogeneity. Several Types of Heterogeneity. Differences across choice makers. Observable: Usually demographics such as age, sex. Cornell University. School of ORIE. Jake Feldman . Cornell University. School of ORIE. Upper Bounds on the Optimal Expected Revenue for Assortment Optimization under the Mixed Multinomal Logit Choice Model. Ian . Parry. Fiscal Affairs Department, IMF . Disclaimer: The views expressed herein are those of the author and should not be attributed to the IMF, its Executive Board, or its management.. 2. Carbon. University of Texas at Austin. Chandra R. . Bhat. Introduction: . Choice Modeling. A set of tools to predict the choice behavior of a group of decision-makers in a specific choice context.. Picture Reference: Future and Simple-Choice Modeling (by Steve Cook and Michael McGee). Competing standards (I)…. Competing standards (. II)…. Definition. . “. A . network externality exists when adoption is characterized by complementarily in consumption or . production”. . . William Greene. Stern School of Business. New York University. 0 Introduction. 1 . Summary. 2 Binary Choice. 3 Panel Data. 4 Bivariate Probit. 5 Ordered Choice. 6 Count Data. 7 Multinomial Choice. 8 Nested Logit. The VCR. DVD players. Definition. . A . network externality exists when adoption is characterized by complementarily in consumption or production. . . Tirole. , J. 1988. Theory of Industrial Organization. Cambridge, MA: MIT Press: . What is an externality?. the uncompensated impact of one person's actions on the well-being of a bystander (or 3. rd. party). Two Types of Externalities. Negative Externality. If the impact on the bystander is . The VCR. DVD players. Definition. . A . network externality exists when adoption is characterized by complementarily in consumption or production. . . Tirole. , J. 1988. Theory of Industrial Organization. Cambridge, MA: MIT Press: . Discrete Choice Modeling William Greene Stern School of Business New York University Part 2 Estimating and Using Binary Choice Models Agenda A Basic Model for Binary Choice Specification Maximum Likelihood Estimation