processMDCEVdata

Formula for the model to be estimated. The formula is divided in
three parts, separated by the symbol <code>|</code>. The first part is reserved for
alternative-specific and individual-specific variables in the psi parameters.
Note that alternative-specific constants are handled by the <code>psi_ascs</code> argument.
The second part corresponds for individual-specific variables that enter in the probability
assignment in models with latent classes. The third part is reserved for the $q_k$ variables
included in the $phi_k$ parameters in the KT model specification used in environmental economics
<code>model = "kt_ee"</code>.

formula

The (IxJ) data to be passed to Stan of class <code><a rd-options="rmdcev" href="/link/mdcev.data?package=rmdcev&version=1.2.0&to=rmdcev" data-mini-rdoc="rmdcev::mdcev.data">mdcev.data</a></code>
including 1) id, 2) alt, 3) choice, 4) price, 5) income, and columns for alternative-specific and
individual specific variables. Note: I is number of individuals and J is number of non-numeraire alternatives.

data

model_options

alt_names

internal

Estimates and simulates Kuhn-Tucker demand models with individual heterogeneity. The package implements the multiple-discrete continuous extreme value (MDCEV) model and the Kuhn-Tucker specification common in the environmental economics literature on recreation demand. Latent class and random parameters specifications can be implemented and the models are fit using maximum likelihood estimation or Bayesian estimation. All models are implemented in Stan, which is a C++ package for performing full Bayesian inference (see Stan Development Team, 2019) <http://mc-stan.org>. The package also implements demand forecasting (Pinjari and Bhat (2011) <https://repositories.lib.utexas.edu/handle/2152/23880>) and welfare calculation (Lloyd-Smith (2018) <doi.org/10.1016/j.jocm.2017.12.002>) for policy simulation.

Patrick Lloyd-Smith

rmdcev

Kuhn-Tucker and Multiple Discrete-Continuous Extreme Value
Models

Trustees of Columbia University

processMDCEVdata function

The (IxJ) data to be passed to Stan of class <code><a rd-options='rmdcev' href='mdcev.data'>mdcev.data</a></code>
including 1) id, 2) alt, 3) choice, 4) price, 5) income, and columns for alternative-specific and
individual specific variables. Note: I is number of individuals and J is number of non-numeraire alternatives.

processMDCEVdata: processMDCEVdata

Description

Usage

Arguments