Discrete Choice Models
The course covers the estimation and usage of discrete choice models that are increasingly estimated using simulation methods. Discrete choice models are used to examine the choices of individual consumers, households, firms and other agents. The course will cover the main discrete choice models and a variety of specifications that build on these models, as well as standard maximum likelihood and simulation-based estimation techniques. Discrete choice models are applicable in many fields, including energy, environmental studies, health, labour, marketing, urban economics and transportation.
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This module can be taken on its own, or as part of a PG Certificate, PG Diploma or Full Masters Program.
Key Skills
By the end of this course, participants should have knowledge and understanding of:
Non-linear binary models
Probit models and estimation.
Logit models and estimation.
Present, interpret and analyse the results of automatic model selection.
Desired Skills
By the end of this course, students should be able to:
Use automatical model selection to build econometric models.
Use saturation estimation.
Present, interpret and analyse the results of automatic model selection.
Utilise effectively PcGive and the R gets package.
Structure
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Discrete Choice Models is an elective 10 credit course and therefore students are expected to input approximately 100 hours of study into the course.
The total number of contact hours is 15 hours. This leaves 85 hours for private study.
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Lectures
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This module consists of 2 - hour lectures per day for 5 days, plus a 1 - hour tutorial per day.
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There will be optional clinics on the last day of the course.
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The dates of each lecture are confirmed closer to the start of each term. If you have any questions about dates, please contact edu@timberlake.co.uk.