1999•INFRASTRUCTURE PLANNING REVIEWOpen access

A Comparative Study on the Estimation Characteristics of Mixed Logit Model and Probit Model

Tetsuo Shimizu, Tetsuo Yai

Abstract

The aim of this study is to compare the estimation characteristics of mixed logit model and probit model with structured covariance for railway route choice. We improve the formulation for mixed logit model in order to be more theoretical formula. We analyze the case of 3 alternatives and it is suggested that probit model is prior to get more stable parameters rather than mixed logit model.In the further study, method for setting choice set may be obviously important issue.

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Key concepts: Ordered probit, Mixed logit, Probit, Multinomial probit, Logit, Econometrics, Probit model, Logistic regression