Analysis of Stated Consumer Preferences Using Multinomial Logit Models and Discretechoice R Package
Andrzej Bąk , Tomasz Bartłomowicz
AbstractThe purpose of the article is to analyze consumer preferences using the selected multinomial logit models consisting of unordered categories. These models are included in the area of microeconometrics and are applied to analyze stated consumer preferences following the approach based on choices and random utility theory. The conducted empirical research was based on the authors’ DiscreteChoice package developed for CRAN R project. The package implements a multinomial, conditional and mixed logit models as well as the functions which can be applied in the discrete choice method for the construction of an experiment, e.g., for a fractional factorial design development, option set coding and model parameter estimation.
|Publication size in sheets||0.65|
|Book||Soliman Khalid S. (eds.): Education Excellence and Innovation Management: A 2025 Vision to Sustain Economic Development during Global Challenges, 2020, International Business Information Management Association (IBIMA), ISBN 9780999855141|
|Keywords in English||Consumer Preferences, Discrete Choices, Microeconometrics, Multinomial Logit Models, R Program|
|Uwaga||The project is financed by the Ministry of Science and Higher Education in Poland under the programme "Regional Initiative of Excellence" 2019-2022 project number 015/RID/2018/19 total funding amount 10 721 040,00 PLN.|
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