Latent class model or mixed logit model? A comparison by transport mode choice data

This article applies two recently stated choice survey datasets of Japan to investigate the difference between the Latent Class Model (LCM) and the Mixed Logit Model (MLM) for transport mode choice. A detailed comparison is carried out, focusing on comparing values of time savings, direct choice elasticities, predicted choice probabilities and prediction success indices. Furthermore, a test on nonnested model is also utilized to help determine which model is superior to another one. The results suggest that the LCM performs better than the MLM in both datasets.