Finite Mixture Models: A Discrete Alternative to Mixed Logit
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YouTubeThe Structural Econ Guy
Finite Mixture Models: A Discrete Alternative to Mixed Logit
Finite mixture models offer a computationally attractive alternative to mixed logit when modeling preference heterogeneity in discrete choice. Instead of assuming unobserved heterogeneity follows a continuous distribution (requiring simulation or quadrature), finite mixture models assume a discrete mixing distribution with finite support ...
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