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Title:

Taste Heterogeneity, Correlation, and Elasticities in Latent Class Choice Models

Accession Number:

01128694

Record Type:

Component

Availability:

Transportation Research Board Business Office

500 Fifth Street, NW
Washington, DC 20001 United States

Abstract:

This paper discusses the differences between Multinomial Logit, Random Coefficients Mixed Logit and Latent Class Choice models in terms of taste heterogeneity, correlation between coefficients and elasticities. Formulae for correlation and elasticities are presented for the Latent Class Choice model, and an empirical analysis is conducted to highlight the differences between the models on real world data. The paper highlights a number of advantages of the Latent Class Choice model, notably in terms of linking taste heterogeneity, inter-coefficient correlation and elasticities to socio-demographic attributes.

Monograph Accession #:

01120148

Report/Paper Numbers:

09-2428

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Hess, Stephane
Ben-Akiva, Moshe
Gopinath, Dinesh
Walker, Joan L

Pagination:

24p

Publication Date:

2009

Conference:

Transportation Research Board 88th Annual Meeting

Location: Washington DC, United States
Date: 2009-1-11 to 2009-1-15
Sponsors: Transportation Research Board

Media Type:

DVD

Features:

Figures (3) ; References; Tables (8)

Subject Areas:

Highways; Passenger Transportation; Planning and Forecasting; Public Transportation; I72: Traffic and Transport Planning

Source Data:

Transportation Research Board Annual Meeting 2009 Paper #09-2428

Files:

TRIS, TRB

Created Date:

Jan 30 2009 6:47PM