Abstract Multinomial Probit provides, perhaps, the most satisfactory form of discrete choice model based on the framework of utility maximization. It has clear advantages over more commonly used alternatives, such as the multinomial logit model, although its use involves more computational effort. This paper discusses the problems both of calculating the multinomial probit choice functions and in estimating the model parameters. Four techniques for calculating the choice functions are reviewed with regard to their comparative accuracy, computational requirements and applicability. With regard to model estimation different calibration methods are reviewed and a simulation based algoirthm is presented and tested.


    Access

    Check access

    Check availability in my library

    Order at Subito €


    Export, share and cite



    Title :

    On the estimation of the multinomial probit model


    Contributors:

    Published in:

    Publication date :

    1982-01-01


    Size :

    10 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English



    Reconsidering the multinomial probit model

    Horowitz, Joel L. | Elsevier | 1991


    Estimability in the multinomial probit model

    Bunch, David S. | Elsevier | 1990


    Calibration performance for the multinomial probit model

    Garrido, R. A. / Association for European Transport | British Library Conference Proceedings | 1999