Abstract
Understanding the distribution and determinants of search-criteria thresholds helps in representing choice set formation and choice behavior. This paper presents the development and estimation of a two-stage model that jointly represents search-criteria thresholds, within a
non-compensatory choice set formation stage, and choice behavior, within a compensatory stage. Data were collected by means of a custom designed web-based choice experiment that seamlessly tracks the entire choice process by recording choice protocols.The model is applied to off-campus rental apartment choice by students, as an example of a complex choice situation. The model combines three correlated ordered-response models for the search criteria with a multinomial logit model for the choice among a realistically large realm of 200 alternatives. Estimates demonstrate that: i) the thresholds are correlated and their selection can be explained by individual characteristics, preferences and perceptions; and ii)
the suggested methodology alleviates the computational complexity embedded in two-stage models by reducing the number of theoretically possible choice sets to the actually chosen ones.
| Original language | English |
|---|---|
| Title of host publication | The 88th Annual Meeting of the Transportation Research Board |
| Publisher | Transportation Research Board |
| Publication date | 2009 |
| Publication status | Published - 2009 |
| Externally published | Yes |
| Event | 88th Annual Meeting of the Transportation Research Board - Washington DC, United States Duration: 11 Jan 2009 → 15 Jan 2009 Conference number: 88 http://pubsindex.trb.org/view.aspx?id=880359 |
Conference
| Conference | 88th Annual Meeting of the Transportation Research Board |
|---|---|
| Number | 88 |
| Country | United States |
| City | Washington DC |
| Period | 11/01/2009 → 15/01/2009 |
| Internet address |