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- W2150788668 abstract "The current paper proposes the use of the multivariate skew-normal distribution function to accommodate non-normal mixing in cross-sectional and panel multinomial probit (MNP) models. The combination of skew-normal mixing and the MNP kernel lends itself nicely to estimation using Bhat’s (2011) maximum approximate composite marginal likelihood (MACML) approach. Simulation results for the cross-sectional case show that our proposed approach does well in recovering the underlying parameters, and also highlights the pitfalls of ignoring non-normality of the continuous mixing distribution when such non-normality is present. At the same time, the proposed model obviates the need to assume a pre-specified parametric distribution for the mixing, and allows the estimation of a very flexible, but still parsimonious, mixing distribution form." @default.
- W2150788668 created "2016-06-24" @default.
- W2150788668 creator A5069115743 @default.
- W2150788668 creator A5069529636 @default.
- W2150788668 date "2012-08-01" @default.
- W2150788668 modified "2023-10-03" @default.
- W2150788668 title "A new approach to specify and estimate non-normally mixed multinomial probit models" @default.
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- W2150788668 doi "https://doi.org/10.1016/j.trb.2012.02.007" @default.
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