Multiple Discrete-Continuous Extreme Value (MDCEV) Model
Estimates different multiple discrete-continuous extreme value
(MDCEV) demand model specifications with observed and unobserved individual heterogeneity (Bhat (2008) <10.1016>). Fixed parameter,
latent class, and random parameter models can be estimated. These models are estimated using
maximum likelihood or Bayesian estimation techniques and are implemented in 'Stan', which is a
C++ package for performing full Bayesian inference (see Stan Development Team (2018) < http://mc-stan.org>).
The 'rmdcev' package also includes functions for demand simulation (Pinjari and Bhat (2011) < https://repositories.lib.utexas.edu/handle/2152/23880>)
and welfare simulation (Lloyd-Smith (2018) <10.1016>).10.1016>10.1016>