This paper adopts a Bayesian approach to the problem of tree structure specification in nested logit models. I use the Laplace approximation and Reversible Jump Markov Chain Monte Carlo (RJMCMC) to estimate marginal likelihoods in both a simulated and a travel mode choice data set. I find that...

Indicators of financial crises generally do not have a good track record. This chapter presents an early warning system (EWS) for six countries in Asia in which indicators do work. We extract a full list of currency crisis indicators from the literature, apply factor analysis to combine the...

We propose a new estimation technique to deal with missing response variables in the context of a nested multinomial logit model. Survey data often have a significant number of incomplete or missing responses. If such data are systematically missing (i.e., not missing at random) and if such...