2000•Unpublished venueRequires access

FLEXIBLE MODEL STRUCTURES FOR DISCRETE CHOICE ANALYSIS. IN: HANDBOOK OF TRANSPORT MODELLING

Chandra R. Bhat

Abstract

Econometric discrete choice analysis is an essential component of studying individual choice behavior and is used in many diverse fields to model consumer demand for commodities and services. Typical examples of the use of econometric discrete choice analysis including studying labor force participation, residential location, own or renting of houses in the economic, geography, and regional science fields, choice of travel mode, destination and car ownership levels in the travel demand field, purchase incidence and brand choice in the marketing field and the choice of martial status and number of children in sociology. The article gives an overview of the motivation for, and structure of, advanced discrete choice models derived from random-utility maximization. The chapter is intended to familiarize readers with structural alternatives to the multinomial logit (MLN). The assumptions of MLN formulation are summarized.

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Key concepts: Discrete choice, Multinomial logistic regression, Consumer choice, Utility maximization, Econometric model, Economics, Renting, Mode choice