Dear developers,
I wanted to estimate MDCEV model with my SP data where each choices also have a price attribute.
I saw that in the Apollo manual, the sample data (time use data) for MDCEV does not include prices. As I understood, the base model of MDCEV assumes that there’s no price variation between inside goods. Is that correct?
I'm wondering how to include the price attribute into the MDCEV model. Is it possible to do that in Apollo, and how?
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Estimating MDCEV model with a price atrribute
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stephanehess
- Site Admin
- Posts: 998
- Joined: 24 Apr 2020, 16:29
Re: Estimating MDCEV model with a price atrribute
Hi
this is easily done as explained in the manual and help for the apollo_mdcev function?
Try ?apollo_mdcev
What you need to specify is mdcev_settings$cost
The helpfile says:
cost: Named list of numeric vectors. Price of each alternative. One element per alternative, each one as long as the number of observations or a scalar. Names must match those in alternatives.
Stephane
this is easily done as explained in the manual and help for the apollo_mdcev function?
Try ?apollo_mdcev
What you need to specify is mdcev_settings$cost
The helpfile says:
cost: Named list of numeric vectors. Price of each alternative. One element per alternative, each one as long as the number of observations or a scalar. Names must match those in alternatives.
Stephane
Re: Estimating MDCEV model with a price atrribute
Oh that helps! Thank you very much!