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Multinomial probit model estimation: computational procedures and applications
Soi-Hoi M. Lam1; Hani S. Mahmassani1,2
1991
Conference Namethe Sixth International Conference on Travel Behaviour
Source PublicationProceedings of the Sixth International Conference on Travel Behaviour
Volume2
Pages228-242
Conference Date22-24 May 1991
Conference PlaceCHATEAU BONNE ENTENTE, QUEBEC
Author of SourceTransportation Association of Canada (TAC)
Abstract

The multinomial probit (MNP) model offers a rather general and flexible framework for the analysis of discrete choices obtained from panel data and the specification of models with general error structures. However, this flexibility of specification has come at a relatively high price in terms of difficulty of computing maximum likelihood estimates ofthe model parameters and evaluating the associated choice function. This paper presents a new procedure for the estimation of MNP models, motivated primarily by the advances that have taken place in terms of computing environments and capabilities. The procedure derives its efficiency from execution in a parallel computing environment (CRAY YMP/8) and its accuracy from the use of better (but otherwise more computationally intensive) mathematical procedures. The paper also discusses and compares alternative nonlinear optimization procedures to search for the parameter values that maximize the likelihood function, in connection with Monte Carlo evaluation of the likelihood of each observation. The results are also compared to those obtained using the Clark approximation to evaluate the choice probabilities. (A)

Language英语
Fulltext Access
Document TypeConference paper
CollectionDEPARTMENT OF CIVIL AND ENVIRONMENTAL ENGINEERING
Faculty of Science and Technology
Affiliation1.University of Texas at Austin
2.University of Maryland
Recommended Citation
GB/T 7714
Soi-Hoi M. Lam,Hani S. Mahmassani. Multinomial probit model estimation: computational procedures and applications[C]//Transportation Association of Canada (TAC),1991:228-242.
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