Thursday, December 29, 2022

"Mixed Logit Models and Network Formation"

One of my papers was just published in final form about a week and a half ago. Here are some details.

Title: Mixed Logit Models and Network Formation

Authors: Harsh Gupta and Mason A. Porter

Abstract: The study of network formation is pervasive in economics, sociology, and many other fields. In this article, we model network formation as a ‘choice’ that is made by nodes of a network to connect to other nodes. We study these ‘choices’ using discrete-choice models, in which agents choose between two or more discrete alternatives. We employ the ‘repeated-choice’ (RC) model to study network formation. We argue that the RC model overcomes important limitations of the multinomial logit (MNL) model, which gives one framework for studying network formation, and that it is well-suited to study network formation. We also illustrate how to use the RC model to accurately study network formation using both synthetic and real-world networks. Using edge-independent synthetic networks, we also compare the performance of the MNL model and the RC model. We find that the RC model estimates the data-generation process of our synthetic networks more accurately than the MNL model. Using a patent citation network, which forms sequentially, we present a case study of a qualitatively interesting scenario—the fact that new patents are more likely to cite older, more cited, and similar patents—for which employing the RC model yields interesting insights.

Sunday, December 04, 2022

Fred McGriff Elected to Baseball Hall of Fame!

The Crime Dog (i.e., Fred McGriff) finally has his day, as the latest (and ever-changing) incarnation of a veterans committee has elected him to Baseball's Hall of Fame. Finally!

McGriff was elected unanimously by the 16-member committee. 12 or more votes of the 16-member committee were necessary for election. The other three people who got enough votes for their vote counts to be released are Don Mattingly (8 votes), Curt Schilling (7 votes), and Dale Murphy (6 votes). Everyone else had 3 or fewer votes.