期刊
TRANSPORTATION RESEARCH PART B-METHODOLOGICAL
卷 43, 期 5, 页码 494-505出版社
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.trb.2008.10.004
关键词
Discrete choice; Multiplicative specification; Multivariate extreme value; Random scale; Heteroscedasticity
类别
资金
- Danish Social Science Research Council
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 P. 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 E 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. (C) 2008 Elsevier Ltd. All rights reserved.
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