DRAFT
Ec 123

Analysis of Consumer Choices

9 units (3-0-6)    |  second term
Prerequisites: Ec 122 is recommended but is not a prerequisite.

This course uses econometric tools to analyze choices made by people among a finite set of alternatives. Discrete choice models have been used to understand consumer behavior in many domains - shopping between brands (Toyota vs. BMW), where to go to college (Caltech or MIT), choosing between modes of transportation (car, metro, Uber, or bicycle), etc. Models studied include logit, nested logit, probit, and mixed logit, etc. Simulation techniques that allow estimation of otherwise intractable models will also be discussed. Not offered 2022-23.

Please Note

The online version of the Caltech Catalog is provided as a convenience; however, the printed version is the only authoritative source of information about course offerings, option requirements, graduation requirements, and other important topics.