1 Department of Transport, Technical University of Denmark2 Transport policy and behaviour, Department of Transport, Technical University of Denmark3 Traffic modelling and planning, Department of Transport, Technical University of Denmark4 Department of Management Engineering, Technical University of Denmark
We propose a method to generate flexible mixture distributions that are useful for estimating models such as the mixed logit model using simulation. The method is easy to implement, yet it can approximate essentially any mixture distribution. We test it with good results in a simulation study and on real data.
Economics Letters, 2013, Vol 120, Issue 2, p. 206-210
Mixture distributions; Mixed logit; Simulation; Maximum simulated likelihood