Quasi-random simulation of discrete choice models

We describe the properties of (t,m,s)-nets and Halton draws. Four types of (t,m,s)-nets, two types of Halton draws, and independent draws are compared in an application of maximum simulated likelihood estimation of a mixed logit model. All of the quasi-random procedures are found to perform far better than independent draws. The best performance is attained by one of the (t,m,s)-nets. The properties of the nets imply that two of them should outperform the other two, and our results confirm this expectation. The two more-accurate nets perform better than both types of Halton draws, while the two less-accurate nets perform worse than the Halton draws.

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