The topics include the structure of random utility models, applied welfare economics with discrete choice models, the compatibility of nested logit models with utility maximization, forecasting new product penetration with flexible substitution patterns, and an econometric analysis of residential electric appliance holdings and consumption.
What does RUM stand for?
RUM stands for Random Utility Model (economics)
This definition appears very frequently and is found in the following Acronym Finder categories:
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We have 38 other meanings of RUM in our Acronym Attic
- Russian-Ukrainian Legal Group
- Remote Ultralow Light Level Imaging
- Satellite Test of Remote Ultralow Light Level Imaging
- Reformed United Liberia Party (Liberia)
- Revised Uniform Limited Partnership Act
- Rail Union Learning Representatives (UK)
- Redeemable Unsecured Loan Stock
- Revised UCLA Loneliness Scale
- Recreational Use of Land and Water Act (Pennsylvania)
- Radio Universitaria do Minho (Portugal)
- Rational Use of Medicines
- Readiness Utilization Maintenance
- Real User Monitor (computing)
- Recinto Universitario de Mayaguez
- Recinto Universitario de Mayagüez
- Rectilinear Uniform Motion
- Reference Unique de Mandat (French: Unique Mandate Reference)
- Release Upgrade Manual
- Remington Ultra Magnum (ammunition)
- Remote Underwater Manipulator
Samples in periodicals archive:
In this article, we present a value-to-value scaling analysis using a travel cost random utility model of site choice to determine compensatory restoration equivalents for hypothetical beach closures on the Gulf Coast of Texas.
The random utility model framework focuses attention on the error term, specifically on the possibility that there is an individual-specific, systematic component to the error term that is related to bias in CV responses.
Needelman, "Site Aggregation in a Random Utility Model of Recreation," Land Economics, 68, 1992, 418-433.