Differences Between Classical and Bayesian Estimates for Mixed Logit Models: A Replication Study (replication data)

DOI

The mixed logit model is widely used in applied econometrics. Researchers typically rely on the free choice between the classical and Bayesian estimation approach. However, empirical evidence of the similarity of their parameter estimates is sparse. The presumed similarity is mainly based on one empirical study that analyzes a single dataset (Huber J, Train KE. 2001. On the similarity of classical and Bayesian estimates of individual mean partworths. Marketing Letters12(3): 259-269). Our replication study offers a generalization of their results by comparing classical and Bayesian parameter estimates from six additional datasets and specifically for panel versus cross-sectional data. In general, our results suggest that the two methods provide similar results, with less similarity for cross-sectional data than for panel data.

Identifier
DOI https://doi.org/10.15456/jae.2022326.0702327793
Metadata Access https://www.da-ra.de/oaip/oai?verb=GetRecord&metadataPrefix=oai_dc&identifier=oai:oai.da-ra.de:775480
Provenance
Creator Elshiewy, Ossama; Zenetti, German; Boztug, Yasemin
Publisher ZBW - Leibniz Informationszentrum Wirtschaft
Publication Year 2017
Rights Creative Commons Attribution 4.0 (CC-BY); Download
OpenAccess true
Contact ZBW - Leibniz Informationszentrum Wirtschaft
Representation
Language English
Resource Type Collection
Discipline Economics