What’s New in NLOGIT Version 6 Software?
All the new features described for LIMDEP 11 are in NLOGIT 6. In addition, there are many new features in Version 6. We have added several enhancements to give you greater flexibility in analyzing different types of data. Many of the features of NLOGIT, existing and new, are designed to let you go beyond just computing coefficients, to analyzing and using your model. We have added many new models including the random regret logit model and best/worst outcome. NLOGIT 6 continues to pioneer new developments for estimation in WTP (willingness to pay) space. Altogether, we have added dozens of features in NLOGIT 6, some clearly visible ones such as the new models and some ‘behind the scenes’ that will smooth the operation and help to stabilize the estimation programs. The following will summarize the important new developments.
New Multinomial Choice Models
NLOGIT 6 includes many new commands and extension of the random parameters model and latent class models:
- Fixed effects in multinomial logit models
- Random effects multinomial logit models
- Random regret logit model
- Best/worst outcome data
- Berry, Levinsohn and Pakes random parameters logit model
- Latent classes with random parameters
- Generalized mixed logit
Model Extensions
- Willingness to pay
- Attribute nonattendance (explicit and implicit)
- Individual specific expected parameters
- Model simulation
- Estimated elasticities and partial effects
- Robust covariance matrix
- Random data generators
- Posterior estimates from latent class models
- Coefficients in random parameters models
- Simplified WALD command
