Non-Linear Mixed Logit

Steffen Andersen, Glenn W. Harrison, Arne Risa Hole, Morten Lau, E. Elisabet Rutström

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

We develop an extension of the familiar linear mixed logit model to allow for the direct estimation of parametric non-linear functions defined over structural parameters. Classic applications include the estimation of coefficients of utility functions to characterize risk attitudes and discounting functions to characterize impatience. There are several unexpected benefits of this extension, apart from the ability to directly estimate structural parameters of theoretical interest.
Original languageEnglish
JournalTheory and Decision
Volume73
Issue number1
Pages (from-to)77-96
Number of pages20
ISSN0040-5833
DOIs
Publication statusPublished - Jul 2012

Keywords

  • Risk Attitudes
  • Random Coefficients
  • Mixed Logit
  • Lottery Choices
  • Behavioral Econometrics
  • Structural Estimation

Cite this

Andersen, S., Harrison, G. W., Hole, A. R., Lau, M., & Rutström, E. E. (2012). Non-Linear Mixed Logit. Theory and Decision, 73(1), 77-96. https://doi.org/10.1007/s11238-011-9277-0