计量经济分析（第六版）答案 Notes-24.docx

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1、Econometrics IProfessor William GreeneNotes 24. Models for Discrete Choice Among Multiple Alternatives1. A Behavioral Model of Choice Among Multiple AlternativesA. The choice set: ordered and unordered choicesB. The nature of the co variates: attributes of choices and characteristics of choosersC. T

2、ypes of modeling frameworks:1. Cross section and repeated measure (panel data)2. Types of preference observationsa. Revealed preferences - ex-post surveysb. Stated preference - environmental studies (willingness to pay) projects in prospect (train line, highway) unavailable technologies (electric ca

3、rs)IL Formal ModelingA. The random utility approach to modeling discrete choice1. Example from the binary choice setting2. Generalizing the random utility model to multiple outcomesB. The importance of latent heterogeneityFixed effects, random effects, random parameters, latent class structuresIII.

4、Estimation of discrete choice modelsA. Formation of probabilitiesB. Construction of the likelihood functionC. Parameter estimation and interpretationIV. Application 1. A model for choice among ordered alternativesA. The ordered probit/logit model1. Formulation2. Estimation and interpretationB. An application to financial strength ratings of property liability insurers1. The basic ordered probit model2. A model with sample selection into rating by a particular raterInterpreting the ordered probit model