Mini-course “Discrete Choice Models”

Mini-course “Discrete Choice Models, Modeling Choices Using Cross Section, Panel, and Stated Choice Data“.

This three day course will survey techniques used in modeling cross section and panel data. Emphasis will be on discrete data.

Discrete choice models have become an essential tool in modeling individual behavior. The techniques are used in all social sciences, health economics, medical research, marketing research, transport research, and in a constellation of other disciplines. This course will examine a large number of models and techniques used in these studies. We will begin with the canonical binary choice model. Several variants and extensions will be discussed before we turn attention to multiple equation binary choice models and ordered choice models.  The remainder of the course will be devoted to multinomial outcome models of the sort used, e.g., in modeling brand choice in marketing, travel mode choice in transport, and a huge variety of applications in the social and behavioral sciences.

The course will include lectures that develop the relevant theory and discuss practical applications from the literature.
The laboratory session will carry out estimation of discrete choice, random utility models and use of them to describe behavior and to predict discrete outcomes.

Course participants will apply the techniques on their own computers using the NLOGIT computer program and real data sets that have been used in applications already in the literature.

Instructor: William Greene, Professor of Economics
NYU Stern School of Business