Bayesian estimation of a discrete choice model for household labor supply in Austria

Description

Our work considers Bayesian estimation of a discrete choice model for household labor supply in Austria which provides a basis for a microsimulation approach. We estimate a very flexible multinomial logit model allowing for fixed and random effects as well as choice and unit specific covariates. To perform Markov Chain Monte Carlo (MCMC) sampling we rewrite the multinomial logit model as an augmented model which involves some latent variables called random utilities. The parameters appearing in the regression model are estimated by using a data-augmented independence Metropolis-Hastings sampler.

Period	08 May 2013
Event title	EU-SILC und Mikrozensus Nutzerinnen- und Nutzerkonferenz 2013
Event type	Conference
Location	AustriaShow on map