Bayesian Efficiency design
Posted: Sat Mar 30, 2019 1:03 am
Dear prof Michiel and others,
I have run the following design. I wonder why am I getting too many extreme values in my prices?, for example the price of 228 is supposed to be the choke price which many people are not expected to choose but it appears many times.
Can you please lend me a hand?
Design
;alts = alt1*, alt2*, sq
;rows = 12
;eff = (mnl,d,mean)
; alg = mfederov(stop = total(10000000 iterations))
;require:
sq.PRDUR = 1, sq.ALOM = 0, sq.IRGM = 0, sq.POLUNCER = 0 , sq.WTRPRI = 38
;bdraws = gauss(1)
;model:
U(alt1) = b2[(n,0.209265,0.0086001)] * PRDUR[2,5,1] + b3 .dummy[(n,0.199165,0.0108026)] * ALOM[1,0] +
b4 .dummy [(n,-0.361222,0.007969)]* IRGM[1,0] + b5 .dummy [(n,0.395512527,0.01824397)|(n, 0.476775789,0.02880091)] * POLUNCER[1,2,0] +
b6[(n,-0.0018, 0.0038606)] * WTRPRI[20,38,76,114,152,228] /
U(alt2) = b2 * PRDUR +
b3 * ALOM +
b4 * IRGM +
b5 * POLUNCER +
b6 * WTRPRI /
U(sq) = b7[0] +
b2 * PRDUR +
b3 * ALOM +
b4 * IRGM +
b5 * POLUNCER +
b6 * WTRPRI
$
teferak@ymail.com
Posts: 8
Joined: Wed Nov 14, 2018 12:15 am
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I have run the following design. I wonder why am I getting too many extreme values in my prices?, for example the price of 228 is supposed to be the choke price which many people are not expected to choose but it appears many times.
Can you please lend me a hand?
Design
;alts = alt1*, alt2*, sq
;rows = 12
;eff = (mnl,d,mean)
; alg = mfederov(stop = total(10000000 iterations))
;require:
sq.PRDUR = 1, sq.ALOM = 0, sq.IRGM = 0, sq.POLUNCER = 0 , sq.WTRPRI = 38
;bdraws = gauss(1)
;model:
U(alt1) = b2[(n,0.209265,0.0086001)] * PRDUR[2,5,1] + b3 .dummy[(n,0.199165,0.0108026)] * ALOM[1,0] +
b4 .dummy [(n,-0.361222,0.007969)]* IRGM[1,0] + b5 .dummy [(n,0.395512527,0.01824397)|(n, 0.476775789,0.02880091)] * POLUNCER[1,2,0] +
b6[(n,-0.0018, 0.0038606)] * WTRPRI[20,38,76,114,152,228] /
U(alt2) = b2 * PRDUR +
b3 * ALOM +
b4 * IRGM +
b5 * POLUNCER +
b6 * WTRPRI /
U(sq) = b7[0] +
b2 * PRDUR +
b3 * ALOM +
b4 * IRGM +
b5 * POLUNCER +
b6 * WTRPRI
$
teferak@ymail.com
Posts: 8
Joined: Wed Nov 14, 2018 12:15 am
Top