Simulation Methods for Probit and Related Models Based on Convenient Error Partitioning

@inproceedings{Train1995SimulationMF,
  title={Simulation Methods for Probit and Related Models Based on Convenient Error Partitioning},
  author={Kenneth E. Train},
  year={1995}
}
Two probit simulators are described that are conceptually and computationally simple. The first is based on simulating the utilities of the non-chosen alternatives and calculating the probability that the chosen alternative's utility exceeds this maximum. This simulator is apparently new. The second, which is implicit in the discussions of McFadden (1989) and Bolduc (1992), is applicable when the covariance among utilities arises from random parameters and/or error components that are common… CONTINUE READING

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