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Latent class models offer an alternative perspective to the popular mixed logit form, replacing the continuous distribution with a discrete distribution in which preference heterogeneity is captured by membership of distinct classes of utility description. Within each class, preference...
Persistent link: https://www.econbiz.de/10010549316
Two issues that reflect how individuals make travel or vehicle purchase choices are the relevance of attribute levels associated with alternatives, and the extent to which the respondent is certain of actually choosing the alternative that they indicated was their preferred alternative. This...
Persistent link: https://www.econbiz.de/10010562308
A growing number of empirical studies involve the assessment of influences on a choice amongst ordered discrete alternatives. Ordered logit and probit models are well known, including extensions to accommodate random parameters and heteroscedasticity in unobserved variance. This paper extends...
Persistent link: https://www.econbiz.de/10010562317
This paper investigates factors likely to increase a person's risk of social exclusion, drawing on survey data specifically framed for this purpose. We use a generalised ordered logit model that accounts for observed and unobserved heterogeneity and derive the marginal effects for each...
Persistent link: https://www.econbiz.de/10010562323
Attitude towards risk is important to individual decision making. Rank-dependent utility theory is an appealing framework within which to study decision making under risk. This paper specifies Rank-Dependent Utility (RDU) models in the context of a stated choice experiment of commuter's risky...
Persistent link: https://www.econbiz.de/10010562341
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This paper reviews 20 published congestion pricing studies with a focus on the dimensions of the stated preference or opinion survey, especially the type of charging regime and the structure of the charge. The effectiveness and acceptability of different charging regimes, as well as behavioural...
Persistent link: https://www.econbiz.de/10010574560
There is growing interest in incorporating both preference heterogeneity and scale heterogeneity in choice models, as a way of capturing an increasing number of sources of utility amongst a set of alternatives. The extension of mixed logit to incorporate scale heterogeneity in a generalised...
Persistent link: https://www.econbiz.de/10010576627