A new family of qualitative choice models: An application of reference models to travel mode choice
•Reference models are dedicated to non-ordered alternatives and generalize the multinomial logit model (MNL).•The link function of reference models is that of the MNL replacing the logistic cumulative distribution function (cdf) by other cdfs (e.g., Gumbel, Student).•According to the chosen cdf, ref...
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Veröffentlicht in: | IDEAS Working Paper Series from RePEc 2019-03, Vol.121 (March), p.74-91 |
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creator | Bouscasse, Hélène Joly, Iragaël Peyhardi, Jean |
description | •Reference models are dedicated to non-ordered alternatives and generalize the multinomial logit model (MNL).•The link function of reference models is that of the MNL replacing the logistic cumulative distribution function (cdf) by other cdfs (e.g., Gumbel, Student).•According to the chosen cdf, reference models lead to a better fit and retrieve consistent economic outputs estimations even when there is a high unobserved heterogeneity.•The Student distribution with low degrees of freedom is able to capture the threshold value at which probability changes.•The usual extensions of the MNL, such as the mixed logit model or the nested logit model, can also be developed for reference models.
This paper considers the recently introduced family of reference models dedicated to non-ordered alternatives. The link function of reference models is that of the multinomial logit model (MNL) replacing the logistic cumulative distribution function (cdf) by other cdfs (e.g., Gumbel, Student). We determine all usual economic outputs (willingness-to-pay, elasticities,...). We also show that the IIA property generally does not hold for this family of models, because of their noninvariance to the alternative chosen as a reference. We estimate and compare five reference models to the MNL on a travel mode-choice survey: according to the chosen cdf, reference models lead to a better fit and retrieve consistent economic outputs estimations even when there is a high unobserved heterogeneity. |
doi_str_mv | 10.1016/j.trb.2018.12.010 |
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This paper considers the recently introduced family of reference models dedicated to non-ordered alternatives. The link function of reference models is that of the multinomial logit model (MNL) replacing the logistic cumulative distribution function (cdf) by other cdfs (e.g., Gumbel, Student). We determine all usual economic outputs (willingness-to-pay, elasticities,...). We also show that the IIA property generally does not hold for this family of models, because of their noninvariance to the alternative chosen as a reference. We estimate and compare five reference models to the MNL on a travel mode-choice survey: according to the chosen cdf, reference models lead to a better fit and retrieve consistent economic outputs estimations even when there is a high unobserved heterogeneity.</description><identifier>ISSN: 0191-2615</identifier><identifier>EISSN: 1879-2367</identifier><identifier>DOI: 10.1016/j.trb.2018.12.010</identifier><language>eng</language><publisher>St. Louis: Elsevier Ltd</publisher><subject>Comparative analysis ; Discrete choice model ; Economic models ; Economics and Finance ; Generalized linear model ; Humanities and Social Sciences ; Individual choice behavior ; Link function</subject><ispartof>IDEAS Working Paper Series from RePEc, 2019-03, Vol.121 (March), p.74-91</ispartof><rights>2019 Elsevier Ltd</rights><rights>(c) 2019. Notwithstanding the ProQuest Terms and conditions, you may use this content in accordance with the associated terms available at https://research.stlouisfed.org/research_terms.html .</rights><rights>Attribution - NonCommercial</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c511t-60972260caee1e239deb3b46287dded61bae6b4f03c43d681aa5492d8b7e8e333</citedby><cites>FETCH-LOGICAL-c511t-60972260caee1e239deb3b46287dded61bae6b4f03c43d681aa5492d8b7e8e333</cites><orcidid>0000-0002-4337-5908 ; 0000-0001-7432-6802 ; 0000-0003-0545-9075</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://dx.doi.org/10.1016/j.trb.2018.12.010$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>230,314,778,782,883,3539,27907,27908,45978</link.rule.ids><backlink>$$Uhttps://hal.science/hal-01984289$$DView record in HAL$$Hfree_for_read</backlink></links><search><creatorcontrib>Bouscasse, Hélène</creatorcontrib><creatorcontrib>Joly, Iragaël</creatorcontrib><creatorcontrib>Peyhardi, Jean</creatorcontrib><title>A new family of qualitative choice models: An application of reference models to travel mode choice</title><title>IDEAS Working Paper Series from RePEc</title><description>•Reference models are dedicated to non-ordered alternatives and generalize the multinomial logit model (MNL).•The link function of reference models is that of the MNL replacing the logistic cumulative distribution function (cdf) by other cdfs (e.g., Gumbel, Student).•According to the chosen cdf, reference models lead to a better fit and retrieve consistent economic outputs estimations even when there is a high unobserved heterogeneity.•The Student distribution with low degrees of freedom is able to capture the threshold value at which probability changes.•The usual extensions of the MNL, such as the mixed logit model or the nested logit model, can also be developed for reference models.
This paper considers the recently introduced family of reference models dedicated to non-ordered alternatives. The link function of reference models is that of the multinomial logit model (MNL) replacing the logistic cumulative distribution function (cdf) by other cdfs (e.g., Gumbel, Student). We determine all usual economic outputs (willingness-to-pay, elasticities,...). We also show that the IIA property generally does not hold for this family of models, because of their noninvariance to the alternative chosen as a reference. 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subjects | Comparative analysis Discrete choice model Economic models Economics and Finance Generalized linear model Humanities and Social Sciences Individual choice behavior Link function |
title | A new family of qualitative choice models: An application of reference models to travel mode choice |
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