کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
1132681 | 955799 | 2009 | 12 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: Discrete choice models with multiplicative error terms Discrete choice models with multiplicative error terms](/preview/png/1132681.png)
The conditional indirect utility of many random utility maximization (RUM) discrete choice models is specified as a sum of an index V depending on observables and an independent random term εε. In general, the universe of RUM consistent models is much larger, even fixing some specification of V due to theoretical and practical considerations. In this paper, we explore an alternative RUM model where the summation of V and εε is replaced by multiplication. This is consistent with the notion that choice makers may sometimes evaluate relative differences in V between alternatives rather than absolute differences. We develop some properties of this type of model and show that in several cases the change from an additive to a multiplicative formulation, maintaining a specification of V, may lead to a large improvement in fit, sometimes larger than that gained from introducing random coefficients in V.
Journal: Transportation Research Part B: Methodological - Volume 43, Issue 5, June 2009, Pages 494–505