Very high costs of systemic banking crises impose the necessity for early warning systems. Purpose of this research is to create an adequate early warning system for systemic banking crises in Montenegro using combination of signal approach and logit model. Beside benchmark model with signal...

This paper presents an analysis of which functional form of Travel Time Value is appropriate to the estimation with binomial logit random factors model. In order to do this, it will make an estimation methods overview, describing some structured functional forms as Tuong and Hensher (1985) for...

We develop a Markov Chain Monte Carlo algorithm for estimating nested logit models in a Bayesian framework. Appropriate "heating target" and reparametrization techniques are adopted for fast mixing. For illustrative purposes, we have implemented the algorithm on two real-life examples involving...

We develop a Markov Chain Monte Carlo algorithm for estimating nested logit models in a Bayesian framework. Appropriate "heating target" and reparametrization techniques are adopted for fast mixing. For illustrative purposes, we have implemented the algorithm on two real-life examples involving...

A traditional discrete choice model assumes that an individual's decision-making process is based on utility maximization and that the systematic part of the utility function depends on some observable attributes and covariates. These attributes and covariates however can only explain part of...

This essay contributes to the development of models that allow for heterogeneity across respondents in the error scale of the multinomial logit model. The potential to explain respondent heterogeneity by differences in error scale has been recognized for some time (Louviere 2001), but models...

In this paper we propose a Bayesian estimation approach for a spatial autoregressive logit specification. Our approach relieson recent advances in Bayesian computing, making use of Pólya-Gamma sampling for Bayesian Markov-chain Monte Carlo algorithms.The proposed specification assumes that the...