Development and estimation of a semi-compensatory model with flexible error structure

Publication: Research - peer-reviewArticle in proceedings – Annual report year: 2009

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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.
Original languageEnglish
TitleProceedings of the 12th International Conference on Travel Behavior Research
PublisherThe International Association for Travel Behaviour Research
Publication date2009
StatePublished

Conference

Conference12th International Conference on Travel Behaviour Research
Number12
CountryIndia
CityJaipur, Rajasthan
Period13/12/0918/12/09
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