Publication: Research - peer-review › Article in proceedings – Annual report year: 2009
Semi-compensatory models show promise in representing two-stage choice processes by integrating choice set formation within discrete choice models. However, they are subject to simplifying assumptions that limit their application. The current study proposes a novel semi-compensatory model that alleviates these simplifying assumptions concerning (i) the number of alternatives, (ii) the representation of choice set formation, and (iii) the error structure. The proposed semi-compensatory model represents a sequence of choice set formation based on the conjunctive heuristic with correlated thresholds, and utility-based choice accommodating alternatively nested substitution patterns across the alternatives and random taste variation across the population. The proposed model is applied to off-campus rental apartment choice of students. Results show (i) the estimated model for a universal realm of 200 alternatives and 41 choice sets, (ii) the threshold representation as a function of individual characteristics, and (iii) the feasibility and importance of introducing a flexible error structure into semi-compensatory models.
|Title of host publication||Proceedings of the 12th International Conference on Travel Behavior Research|
|Publisher||The International Association for Travel Behaviour Research|
|Conference||12th International Conference on Travel Behaviour Research|
|Period||13/12/09 → 18/12/09|
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