Hess, S and Daly, A (2009) Calculating Errors for Measures Derived From Choice Modeling Estimates. In: TRB 88th Annual Meeting Compendium of Papers DVD. Transportation Research Board 88th Annual Meeting, 11-15 Jan 2009, Washington DC. National Academy of Sciences , ? - ? (23).
Abstract
The calibration of choice models produces a set of parameter estimates and an associated covariance matrix, usually based on maximum likelihood estimation. However, in many cases, the values of interest to analysts are in fact functions of these parameters rather than the parameters themselves. It is thus also crucial to have a measure of variance for these derived quantities and it is preferable that these should also have the maximum likelihood properties of minimum variance et cetera. While the calculation of standard errors has been described for a number of such measures in the literature, including the ratio of two parameters, these results are often based on rather ad hoc calculations. In this paper, the authors present a general way of obtaining standard errors for such derived functions, describe the properties for these errors, give formulae for the standard errors for a number of commonly used quantities and develop a freeware software tool for the calculation of standard errors.
Metadata
Item Type: | Proceedings Paper |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2009, National Academy of Sciences. This is an author produced version of a paper in TRB 88th Annual Meeting Compendium of Papers DVD. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Discrete choice models; standard errors; parameter signficance; delta method; maximum likelihood |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds) > ITS: Economics and Discrete Choice (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 30 Mar 2015 14:14 |
Last Modified: | 22 Jan 2018 16:21 |
Published Version: | http://pubsindex.trb.org/view/2009/C/881298 |
Status: | Published |
Publisher: | National Academy of Sciences |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:84335 |