Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 405352
Title The Performance of German Firms in the Business-Related Service Sectors Revisited: Differential Evolution Markov Chain Estimation of the Multinomial Probit Model
Author(s) Kuiper, W.E.; Cozijnsen, A.J.
Source Computational Economics 37 (2011)4. - ISSN 0927-7099 - p. 331 - 362.
Department(s) Marketing and Consumer Behaviour
Publication type Refereed Article in a scientific journal
Publication year 2011
Keyword(s) global optimization - inference - spaces
Abstract We outline a new estimation method for the multinomial probit model (MNP). The method is a differential evolution Markov chain algorithm that employs a Metropolis-within-Gibbs sampler with data augmentation and the Geweke–Hajivassiliou–Keane (GHK) probability simulator. The method lifts the curse of dimensionality in numerical integration as it neither requires simulation of the whole likelihood function nor the computation of its analytical or numerical derivatives. The method is applied to an unbalanced panel dataset of firms from the German business-related service sector over the period 1994–2000. In spite of its less restricted character, the MNP model is found not to provide more accurate estimates for explaining the performance of these firms than the multinomial logit model
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