The Estimation of Multinomial Probit Models: A New Calibration Algorithm
- 1 November 1989
- journal article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Transportation Science
- Vol. 23 (4) , 253-265
- https://doi.org/10.1287/trsc.23.4.253
Abstract
This study proposes the estimation of Multinomial Probit models using Mendell-Elston's approximation to the cumulative multivariate normal for the computation of choice probabilities. The accuracy of this numerical approximation in computing probabilities is compared with other procedures used in existing calibration programs. Finally, the proposed estimation procedure is tested on simulated choice data.Keywords
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