Hess, S, Bolduc, D and Polak, JW (2010) Random covariance heterogeneity in discrete choice models. Transportation, 37 (3). 391 - 411. ISSN 0049-4488
Abstract
In this paper, we extend the standard discrete choice modelling framework by allowing for random variations in the substitution patterns between alternatives across respondents, leading to increased model flexibility. The paper shows how such a Mixed Covariance model can be specified either with purely random variation or with a mixture of random and deterministic variation. Additionally, the model can be based on an underlying GEV or ECL structure. Finally, the model can be specified as a continuous mixture or as a discrete mixture. An application on Stated Preference data for the choice of departure time and travel mode shows that important gains in model performance can be obtained by allowing for random covariance heterogeneity. Furthermore, the approach leads to significant differences in the implied willingness to pay measures, and the substitution patterns between alternatives.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2010, Springer. This is an author produced version of a paper published in Transportation. Uploaded in accordance with the publisher's self-archiving policy. The final publication is available at link.springer.com |
Dates: |
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Institution: | The University of Leeds |
Depositing User: | Symplectic Publications |
Date Deposited: | 15 Jan 2014 12:27 |
Last Modified: | 17 Jan 2018 00:56 |
Published Version: | http://dx.doi.org/10.1007/s11116-009-9255-3 |
Status: | Published |
Publisher: | Springer |
Identification Number: | 10.1007/s11116-009-9255-3 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:43608 |