01478481

Component

This paper develops a blueprint to apply Bhat’s (2011) Maximum Approximate Composite Marginal Likelihood (MACML) inference approach for the estimation of multiple discrete-continuous probit (MDCP) models. A simulation exercise is undertaken to evaluate the ability of the proposed approach to recover parameters from a cross-sectional MDCP model. The results show that the MACML approach does very well in recovering parameters, as well as appears to accurately capture the curvature of the Hessian of the log-likelihood function. The paper also demonstrates the application of the proposed approach through a study of individuals’ recreational choice among alternative destination locations and the number of trips to each recreational destination location, using data drawn from the 2004-2005 Michigan statewide household travel survey.

This paper was sponsored by TRB committee ADB40 Transportation Demand Forecasting.

01470560

13-3828

English

0000-0002-0715-8121

22p

2013

Transportation Research Board 92nd Annual Meeting

Digital/other

References; Tables

Estimation theory; Probits; Recreational trips; Travel surveys

Discrete-continuous models; Log-likelihood estimation

Michigan

Highways; Planning and Forecasting; I72: Traffic and Transport Planning

Transportation Research Board Annual Meeting 2013 Paper #13-3828

TRIS, TRB, ATRI

Feb 5 2013 12:45PM