Preprint
Aug 2026
SAUSS: Stochastic Approximation with Unbiased Simulated Scores for Limited Dependent Variable Models
Multinomial choice models allow flexible substitution patterns but become computationally demanding with many alternatives or observations. With a fixed per-observation simulation budget, simulated maximum likelihood introduces simulation bias, while each optimization step requires a full-sample likelihood evaluation....
S. Lee, Yuan Liao, M. Seo et al.
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