A Multinomial Probit Model with Latent Factors: Identification and Interpretation without a Measurement System

We develop a parametrization of the multinomial probit model that yields greater insight into the underlying decision-making process, by decomposing the error terms of the utilities into latent factors and noise. The latent factors are identified without a measurement system, and they can be meaning...

Full description

Saved in:
Bibliographic details
Volume: 11042
Main Author: Piatek, Rémi
Gensowski, Miriam
Format: Paper
Language: English
Place of publication: Bonn Institute of Labor Economics (IZA) 2017
published in: IZA Discussion Papers Vol. 11042
Data of publication: 2017
Subjects:
Online Access: Fulltext
Database: EconStor
Database information Databases - DBIS