|Kod Erasmus / ISCED:||(brak danych) / (brak danych)|
|Nazwa przedmiotu:||Choice Modelling|
|Jednostka:||Wydział Nauk Ekonomicznych|
Przedmioty WNE dla programu QPE w Międzydziedzinowej Szkole Doktorskiej (ZIP)
|Punkty ECTS i inne:||
The aim of this course is to familiarize students with the methods used in modern, applied empirical research involving discrete choice data. Topics covered include data sources (revealed, stated preference), design of discrete choice experiments, stated preference survey methods, and econometric treatment. The course will cover both basic and advanced methods used in the literature. The course includes practical computer-based exercises (case studies). This course we will use an open source statistical software, R.
Grades will be based on home assignments and the final test.
1. Choosing, paradigms of choice
2. Data sources, revealed and stated preference data
3. Consumers’ motivations, decision rules, economic preferences
4. Willingness to pay, valuation
5. Choice probabilities, market shares, marginal effects, elasticities
6. Discrete choice experiments: elicitation formats, binary, multinomial, ranking, rating
7. Alternatives, attributes, attribute-levels
8. Survey setup, topics in questionnaire design
9. Incentive compatibility
10. Experimental design
11. Binary and multinomial choice models
12. Random parameters (mixed, latent class, nested) models, error components, correlated attributes
13. Willingness-to-pay space, mixing distributions, cost damping, individual-specific estimates
14. Modelling scale (variance of the error component)
15. Hybrid choice (integrated choice and latent variable) models
16. Combining stated and revealed preference data
17. New areas for discrete choice models (endogeneity, random regret minimization, satiation points, satisficing, elimination by aspects, attribute non-attendance, other)
Textbooks - baseline
− Train, K. E., 2009. Discrete Choice Methods with Simulation. 2 Ed., Cambridge University Press, New York.
− Hensher, D. A., Rose, J. M., and Greene, W. H., 2015. Applied Choice Analysis. 2 Ed., Cambridge University Press, Cambridge.
Textbooks – selected topics
− Greene, W. H., 2011. Econometric Analysis. 7 Ed., Prentice Hall.
− Cameron, A. C., and Trivedi, P. K., 2005. Microeconometrics: Methods and Applications. Cambridge University Press.
− Freeman, A. M., Herriges, J. A., and Kling, C. L., 2014. The measurement of environmental and resource values: theory and methods. Routledge.
− Champ, P. A., Boyle, K. J., and Brown, T. C., 2017. A Primer on Nonmarket Valuation. Springer, Amsterdam.
− Ben-Akiva, M., and Lerman, S. R., 1985. Discrete Choice Analysis: Theory and Application to Travel Demand. MIT Press, Cambridge, MA.
− Louviere, J. J., Hensher, D. A., and Swait, J. D., 2006. Stated Choice Methods: Analysis and Applications. Cambridge University Press, Cambridge.
|Efekty uczenia się:||
Completing the course allows participants to familiarize with methods and tools of choice modeling – both theoretically (rationale, assumptions, theory) and in practice (being able to use them for data analysis – building a model, estimation, interpretation of the results). The course provides a baseline for using the choice analysis in practice and self-teaching the many extensions. The models covered are applied in various fields of microeconomics (analysis of markets, industries, consumers, social research, experimental economics etc.), in which people’s choices reveal their preferences or decision strategies.
|Metody i kryteria oceniania:||
1. Completing the course is based on the results of the final written exam (70%) and home assignments (30%).
2. The final grade is calculated using the following formula:
According to the following grading scale:
result (%) / grade
3. The final exam includes a theoretical (multiple choice test) and a practical component (problems requiring choosing the right model, building it, estimation and interpretation). The practical part of the exam is ‘open book’ and computer-based.
4. Home assignments consist of solving data analysis problems (individually or in groups, depending on the assignment). Solutions are verified and the most common mistakes are reviewed in class.
5. Attendance is not a requirement for completing the course.
6. All students are subject to the same exam schedule (final and retake). There are no other possibilities to take the exam and complete the course (unless by the Dean’s decision).
7. Missing any of the exams is equivalent of failing it (the ‘NK’ grade).
We enforce the department’s ‘Zero tolerance for cheating’ rules.
Właścicielem praw autorskich jest Uniwersytet Warszawski, Wydział Nauk Ekonomicznych.