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Appearance. Choice modelling attempts to model the decision process of an individual or segment via revealed preferences or stated preferences made in a particular context or contexts. Typically, it attempts to use discrete choices (A over B; B over A, B & C) in order to infer positions of the items (A, B and C) on some relevant latent scale ...
Merton's portfolio problem. Merton's portfolio problem is a problem in continuous-time finance and in particular intertemporal portfolio choice. An investor must choose how much to consume and must allocate their wealth between stocks and a risk-free asset so as to maximize expected utility.
When a researcher has some consumer choice data in his/her hand and tries to construct a choice model and simulate it against the data, he/she needs to first define a choice set. A Choice Set in discrete choice models is defined to be finite, exhaustive, and mutually exclusive. For instance, consider households' choice of how many laptops to ...
Markowitz model. In finance, the Markowitz model ─ put forward by Harry Markowitz in 1952 ─ is a portfolio optimization model; it assists in the selection of the most efficient portfolio by analyzing various possible portfolios of the given securities.
Rapid prototyping. A rapid prototyping machine using selective laser sintering (SLS) 3D model slicing. Rapid prototyping is a group of techniques used to quickly fabricate a scale model of a physical part or assembly using three-dimensional computer aided design (CAD) data. [1][2] Construction of the part or assembly is usually done using 3D ...
Pages in category "Choice modelling". The following 17 pages are in this category, out of 17 total. This list may not reflect recent changes . Choice modelling.
Revealed preference theory was a means to reconcile demand theory by defining utility functions by observing behaviour. Therefore, revealed preference is a way to infer the preferences of individuals given the observed choices. It contrasts with attempts to directly measure preferences or utility, for example through stated preferences.
The choice set is the set of alternatives that are available to the person. For a discrete choice model, the choice set must meet three requirements: The set of alternatives must be collectively exhaustive, meaning that the set includes all possible alternatives. This requirement implies that the person necessarily does choose an alternative ...