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Discrete choice, the Glossary

Index Discrete choice

In economics, discrete choice models, or qualitative choice models, describe, explain, and predict choices between two or more discrete alternatives, such as entering or not entering the labor market, or choosing between modes of transport.[1]

Table of Contents

  1. 47 relations: Built environment, Collectively exhaustive events, Conjoint analysis, Consumer choice, Continuous or discrete variable, Daniel McFadden, Demand curve, Econometrica, Economics, Emergency management, Fuel efficiency, Gumbel distribution, Homoscedasticity and heteroscedasticity, Hybrid choice model, Independence of irrelevant alternatives, Independent and identically distributed random variables, International Economic Review, Jerry A. Hausman, Journal of Applied Econometrics, Journal of Econometrics, Kenneth E. Train, Kronecker delta, Labour economics, Latent and observable variables, Logistic distribution, Logistic function, Logistic regression, Maximum likelihood estimation, Maximum score estimator, Mixed logit, Mutual exclusivity, New product development, Nobel Memorial Prize in Economic Sciences, Nonparametric statistics, Normal distribution, Partial least squares path modeling, Polytomous choice, Pricing, Probit model, Rapid transit, Regression analysis, Scion (automobile), Structural equation modeling, The Journal of Human Resources, The Review of Economics and Statistics, Transport, Utility.

  2. Choice modelling

Built environment

The term built environment refers to human-made conditions and is often used in architecture, landscape architecture, urban planning, public health, sociology, and anthropology, among others.

See Discrete choice and Built environment

Collectively exhaustive events

In probability theory and logic, a set of events is jointly or collectively exhaustive if at least one of the events must occur.

See Discrete choice and Collectively exhaustive events

Conjoint analysis

Conjoint analysis is a survey-based statistical technique used in market research that helps determine how people value different attributes (feature, function, benefits) that make up an individual product or service.

See Discrete choice and Conjoint analysis

Consumer choice

The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves.

See Discrete choice and Consumer choice

Continuous or discrete variable

In mathematics and statistics, a quantitative variable may be continuous or discrete if they are typically obtained by measuring or counting, respectively.

See Discrete choice and Continuous or discrete variable

Daniel McFadden

Daniel Little McFadden (born July 29, 1937) is an American econometrician who shared the 2000 Nobel Memorial Prize in Economic Sciences with James Heckman.

See Discrete choice and Daniel McFadden

Demand curve

A demand curve is a graph depicting the inverse demand function, a relationship between the price of a certain commodity (the y-axis) and the quantity of that commodity that is demanded at that price (the x-axis).

See Discrete choice and Demand curve

Econometrica

Econometrica is a peer-reviewed academic journal of economics, publishing articles in many areas of economics, especially econometrics.

See Discrete choice and Econometrica

Economics

Economics is a social science that studies the production, distribution, and consumption of goods and services.

See Discrete choice and Economics

Emergency management

Emergency management (also disaster management) is a science and a system charged with creating the framework within which communities reduce vulnerability to hazards and cope with disasters.

See Discrete choice and Emergency management

Fuel efficiency

Fuel efficiency (or fuel economy) is a form of thermal efficiency, meaning the ratio of effort to result of a process that converts chemical potential energy contained in a carrier (fuel) into kinetic energy or work.

See Discrete choice and Fuel efficiency

Gumbel distribution

In probability theory and statistics, the Gumbel distribution (also known as the type-I generalized extreme value distribution) is used to model the distribution of the maximum (or the minimum) of a number of samples of various distributions.

See Discrete choice and Gumbel distribution

Homoscedasticity and heteroscedasticity

In statistics, a sequence of random variables is homoscedastic if all its random variables have the same finite variance; this is also known as homogeneity of variance.

See Discrete choice and Homoscedasticity and heteroscedasticity

Hybrid choice model

Hybrid choice models are advanced econometric tools used to capture the decision-making processes of individuals by integrating both observable and unobservable factors. Discrete choice and Hybrid choice model are choice modelling and economics models.

See Discrete choice and Hybrid choice model

Independence of irrelevant alternatives

Independence of irrelevant alternatives (IIA), also known as binary independence, the independence axiom, is an axiom of decision theory and economics describing a necessary condition for rational behavior.

See Discrete choice and Independence of irrelevant alternatives

Independent and identically distributed random variables

In probability theory and statistics, a collection of random variables is independent and identically distributed if each random variable has the same probability distribution as the others and all are mutually independent.

See Discrete choice and Independent and identically distributed random variables

International Economic Review

The International Economic Review, (IER) is a quarterly peer-reviewed scientific journal in economics published by the Economics Department of the University of Pennsylvania and Osaka University.

See Discrete choice and International Economic Review

Jerry A. Hausman

Jerry Allen Hausman (born May 5, 1946) is the John and Jennie S. MacDonald Professor of Economics at the Massachusetts Institute of Technology and a notable econometrician.

See Discrete choice and Jerry A. Hausman

Journal of Applied Econometrics

The Journal of Applied Econometrics is a peer-reviewed academic journal covering econometrics, published by John Wiley & Sons.

See Discrete choice and Journal of Applied Econometrics

Journal of Econometrics

The Journal of Econometrics is a scholarly journal in econometrics.

See Discrete choice and Journal of Econometrics

Kenneth E. Train

Kenneth E. Train (born November 14, 1951) is an Adjunct Professor of Economics at the University of California, Berkeley, United States.

See Discrete choice and Kenneth E. Train

Kronecker delta

In mathematics, the Kronecker delta (named after Leopold Kronecker) is a function of two variables, usually just non-negative integers.

See Discrete choice and Kronecker delta

Labour economics

Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour.

See Discrete choice and Labour economics

Latent and observable variables

In statistics, latent variables (from Latin: present participle of lateo, “lie hidden”) are variables that can only be inferred indirectly through a mathematical model from other observable variables that can be directly observed or measured.

See Discrete choice and Latent and observable variables

Logistic distribution

In probability theory and statistics, the logistic distribution is a continuous probability distribution.

See Discrete choice and Logistic distribution

Logistic function

A logistic function or logistic curve is a common S-shaped curve (sigmoid curve) with the equation where The logistic function has domain the real numbers, the limit as x \to -\infty is 0, and the limit as x \to +\infty is L. The standard logistic function, depicted at right, where L.

See Discrete choice and Logistic function

Logistic regression

In statistics, the logistic model (or logit model) is a statistical model that models the log-odds of an event as a linear combination of one or more independent variables.

See Discrete choice and Logistic regression

Maximum likelihood estimation

In statistics, maximum likelihood estimation (MLE) is a method of estimating the parameters of an assumed probability distribution, given some observed data.

See Discrete choice and Maximum likelihood estimation

Maximum score estimator

In statistics and econometrics, the maximum score estimator is a nonparametric estimator for discrete choice models developed by Charles Manski in 1975. Discrete choice and maximum score estimator are choice modelling.

See Discrete choice and Maximum score estimator

Mixed logit

Mixed logit is a fully general statistical model for examining discrete choices. Discrete choice and Mixed logit are choice modelling.

See Discrete choice and Mixed logit

Mutual exclusivity

In logic and probability theory, two events (or propositions) are mutually exclusive or disjoint if they cannot both occur at the same time.

See Discrete choice and Mutual exclusivity

New product development

In business and engineering, product development or new product development (PD or NPD) covers the complete process of bringing a new product to market, renewing an existing product and introducing a product in a new market.

See Discrete choice and New product development

Nobel Memorial Prize in Economic Sciences

The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award funded by Sveriges Riksbank and administered by the Nobel Foundation.

See Discrete choice and Nobel Memorial Prize in Economic Sciences

Nonparametric statistics

Nonparametric statistics is a type of statistical analysis that makes minimal assumptions about the underlying distribution of the data being studied. Discrete choice and Nonparametric statistics are mathematical and quantitative methods (economics).

See Discrete choice and Nonparametric statistics

Normal distribution

In probability theory and statistics, a normal distribution or Gaussian distribution is a type of continuous probability distribution for a real-valued random variable.

See Discrete choice and Normal distribution

Partial least squares path modeling

The partial least squares path modeling or partial least squares structural equation modeling (PLS-PM, PLS-SEM) is a method for structural equation modeling that allows estimation of complex cause-effect relationships in path models with latent variables.

See Discrete choice and Partial least squares path modeling

Polytomous choice

In economics, polytomous choice is a setting (model) with more than two choices; contrast to dichotomous choice. Discrete choice and polytomous choice are economics models.

See Discrete choice and Polytomous choice

Pricing

Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan.

See Discrete choice and Pricing

Probit model

In statistics, a probit model is a type of regression where the dependent variable can take only two values, for example married or not married.

See Discrete choice and Probit model

Rapid transit

Rapid transit or mass rapid transit (MRT), commonly referred to as metro, is a type of high-capacity public transport that is generally built in urban areas.

See Discrete choice and Rapid transit

Regression analysis

In statistical modeling, regression analysis is a set of statistical processes for estimating the relationships between a dependent variable (often called the 'outcome' or 'response' variable, or a 'label' in machine learning parlance) and one or more independent variables (often called 'predictors', 'covariates', 'explanatory variables' or 'features').

See Discrete choice and Regression analysis

Scion (automobile)

Scion was a marque of Toyota that debuted in 2003 and was available only in the United States and Canada.

See Discrete choice and Scion (automobile)

Structural equation modeling

Structural equation modeling (SEM) is a diverse set of methods used by scientists doing both observational and experimental research.

See Discrete choice and Structural equation modeling

The Journal of Human Resources

The Journal of Human Resources is a bimonthly peer-reviewed academic journal covering empirical microeconomics.

See Discrete choice and The Journal of Human Resources

The Review of Economics and Statistics

The Review of Economics and Statistics is a peer-reviewed academic journal that covers applied economics, with specific relevance to the scope of econometrics.

See Discrete choice and The Review of Economics and Statistics

Transport

Transport (in British English) or transportation (in American English) is the intentional movement of humans, animals, and goods from one location to another.

See Discrete choice and Transport

Utility

In economics, utility is a measure of the satisfaction that a certain person has from a certain state of the world. Discrete choice and utility are choice modelling.

See Discrete choice and Utility

See also

Choice modelling

References

[1] https://en.wikipedia.org/wiki/Discrete_choice

Also known as Binary choice, Binary choice model, Conditional logit, Discrete Choice Models, Discrete choice analysis, Discrete choice model, Exploded logit, Nested logit, Qualitative response models.