Journal ArticleDOI
The mixed logit model: the state of practice
TLDR
The mixed logit model is considered to be the most promising state-of-the-art discrete choice model currently available as discussed by the authors, however, the complexity of the model is steep and the unwary are likely to fall into a chasm.Abstract:
The mixed logit model is considered to be the most promising state of the art discrete choice model currently available. Increasingly researchers and practitioners are estimating mixed logit models of various degrees of sophistication with mixtures of revealed preference and stated choice data. It is timely to review progress in model estimation since the learning curve is steep and the unwary are likely to fall into a chasm if not careful. These chasms are very deep indeed given the complexity of the mixed logit model. Although the theory is relatively clear, estimation and data issues are far from clear. Indeed there is a great deal of potential mis-inference consequent on trying to extract increased behavioural realism from data that are often not able to comply with the demands of mixed logit models. Possibly for the first time we now have an estimation method that requires extremely high quality data if the analyst wishes to take advantage of the extended behavioural capabilities of such models. This paper focuses on the new opportunities offered by mixed logit models and some issues to be aware of to avoid misuse of such advanced discrete choice methods by the practitioner.read more
Citations
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Journal ArticleDOI
Contemporary Guidance for Stated Preference Studies
Robert J. Johnston,Kevin J. Boyle,Wiktor L. Adamowicz,Jeffrey Bennett,Roy Brouwer,Trudy Ann Cameron,W. Michael Hanemann,Nick Hanley,Mandy Ryan,Riccardo Scarpa,Roger Tourangeau,Christian A. Vossler +11 more
TL;DR: In this paper, the authors present a set of guidelines for stated preference studies that are more comprehensive than those of the original National Oceanic and Atmospheric Administration (NOAA) Blue Ribbon Panel on contingent valuation, and reflect the two decades of research since that time.
Journal ArticleDOI
Preferences for shared autonomous vehicles
TL;DR: In this paper, a stated choice survey was conducted and analyzed, using a mixed logit model, showing that service attributes including travel cost, travel time and waiting time may be critical determinants of the use of SAVs and the acceptance of DRS.
Journal ArticleDOI
Where do cyclists ride? A route choice model developed with revealed preference GPS data
TL;DR: The findings suggest that cyclists are sensitive to the effects of distance, turn frequency, slope, intersection control, and traffic volumes, and appear to place relatively high value on off-street bike paths, enhanced neighborhood bikeways with traffic calming features (aka “bicycle boulevards”), and bridge facilities.
Journal ArticleDOI
Product labelling in the market for organic food: Consumer preferences and willingness-to-pay for different organic certification logos
Meike Janssen,Ulrich Hamm +1 more
TL;DR: It is concluded that it is advisable to label organic products with well-known organic certification logos that consumers trust, and organisations owning an organic labelling scheme should put effort into measures for increasing consumer awareness of the logo.
Journal ArticleDOI
Willingness-to-pay for renewable energy: Primary and discretionary choice of British households’ for micro-generation technologies
TL;DR: In this article, a choice experiment approach was used to investigate households' WTP for renewable energy technologies in the UK, and the results suggest that whilst renewable energy adoption is significantly valued by households, this value is not sufficiently large, for the vast majority of households, to cover the higher capital costs of micro-generation energy technologies.
References
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Book
Discrete Choice Methods with Simulation
TL;DR: In this paper, the authors describe the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation, and compare simulation-assisted estimation procedures, including maximum simulated likelihood, method of simulated moments, and methods of simulated scores.
Journal ArticleDOI
Mixed mnl models for discrete response
Daniel McFadden,Kenneth Train +1 more
TL;DR: In this article, the adequacy of a mixing specification can be tested simply as an omitted variable test with appropriately definedartificial variables, and a practicalestimation of aarametricmixingfamily can be run by MaximumSimulated Likelihood EstimationorMethod ofSimulatedMoments, andeasilycomputedinstruments are provided that make the latter procedure fairly eAcient.
Book
Monte Carlo methods
TL;DR: The general nature of Monte Carlo methods can be found in this paper, where a short resume of statistical terms is given, including random, pseudorandom, and quasirandom numbers.
Journal ArticleDOI
Mixed logit with repeated choices: households' choices of appliance efficiency level
David Revelt,Kenneth Train +1 more
TL;DR: Mixed logit as mentioned in this paper is a generalization of standard logit that does not exhibit the restrictive independence from irrelevant alternatives property and explicitly accounts for correlations in unobserved utility over repeated choices by each customer.
Journal ArticleDOI
On the efficiency of certain quasi-random sequences of points in evaluating multi-dimensional integrals
TL;DR: In this paper, the efficiency of such an integration formula can be measured by considering how it fares when the indicator function of the hyperbrick is defined by an arbitrary point in the unit hypercube.