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. (C) 2003 Elsevier Ltd. All rights reserved.