Mixed Logit with Repeated Choices: Households' Choices of Appliance Efficiency Level

By Revelt David and Train Kenneth
Review of Economics and Statistics (1998)

  • Kenneth Train

    University of California, Berkeley

    USA

Created

October 1, 2013

Last update

October 10, 2013

Software

Matlab

Ranking

82

Visits

3499

Downloads

250

Description

This code estimates the parameters of mixed logit models, also called random-parameters or error-components logit. This model is a generalization of standard logit that does not exhibit the restrictive "independence from irrelevant alternatives" property and explicitly accounts for correlations in unobserved utility over repeated choices by each customer. The user can introduce explanatory variables associated with fixed and/or random coefficients. For random coefficients (RC), the user can choose a specific distribution for each parameter. The code displays estimated fixed coefficients, the estimated parameters of the RC distribution, standard errors and sampling covariance matrix, and the log-likelihood at convergence.

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