Journal
ECONOMICS LETTERS
Volume 120, Issue 2, Pages 206-210Publisher
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2013.03.050
Keywords
Mixture distributions; Mixed logit; Simulation; Maximum simulated likelihood
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We propose a method to generate flexible mixture distributions that are useful for estimating models such as the mixed logit model using simulation. The method is easy to implement, yet it can approximate essentially any mixture distribution. We test it with good results in a simulation study and on real data. (C) 2013 Elsevier B.V. All rights reserved.
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