Economics, Econometrics and Finance
8 years ago

New method revolutionizes estimation of fixed-effect logit model for better decision-making.

Economics Letters
A convenient method for the estimation of the multinomial logit model with fixed effects
Xavier D’Haultfœuille, Alessandro Iaria

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The researchers found a new way to estimate a model that predicts choices people make. The old method had a problem when there were many options to choose from. The new method uses a different approach to solve this problem. By using random samples of different choice sequences, they were able to estimate the model accurately.