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The Estimation of Multinomial Probit Models: A New Calibration Algorithm
WAGNER A. KAMAKURA
Vol. 23, No. 4 (November 1989), pp. 253-265
Published by: INFORMS
Stable URL: http://www.jstor.org/stable/25768394
Page Count: 13
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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.
Transportation Science © 1989 INFORMS