The choice of a specific distribution for random parameters of discrete choice models is a critical issue in … lead to serious bias in model forecast and in the estimated means of random parameters. In this paper, we propose a …

We apply specifications of the random parameters stochastic frontier cost function model to estimate bank efficiency … random parameters stochastic frontier models since they better accommodate heterogeneity and produce more precise estimated …

heterogeneity through random parameters within a latent class only very marginally improves on the statistical contribution of the … attribute heterogeneity, and that random parameters within class are essentially a potentially confounding effect. An … interesting finding, however, is that the introduction of random parameters increases the probability of membership to full …