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Comparing different Market Simulator methods


Would you please elaborate what the differences are between different following approaches of market simulator? What are pros and cons? For what purpose each one is more suitable?
first choice, logit, Bradley-Terry-Luce and randomized first choice

Best regards
asked Aug 10, 2017 by Robin59 Bronze (545 points)

1 Answer

0 votes
answered Aug 10, 2017 by Keith Chrzan Platinum Sawtooth Software, Inc. (115,150 points)