Integrating latent variables in discrete choice models: How higher-order values and attitudes determine consumer choice

Dirk Temme, Marcel Paulssen and Till Dannewald

No 2007-065, SFB 649 Discussion Papers from Humboldt University Berlin, Collaborative Research Center 649: Economic Risk

Abstract: Integrated choice and latent variable (ICLV) models represent a promising new class of models which merge classic choice models with the structural equation approach (SEM) for latent variables. Despite their conceptual appeal, to date applications of ICLV models in marketing are still rare. The present study on travel mode choice clearly demonstrates the value of ICLV models to enhance understanding of choice processes. In addition to the usually studied directly observable variables such as travel time, we show how abstract motivations such as power and hedonisms as well as attitudes such as a desire for flexibility impact on travel mode choice. Further, we can show that it is possible to estimate ICLV models with the widely available structural equation modeling package Mplus. This finding is likely to encourage wider usage of this appealing model class in the marketing field.

Keywords: Hybrid choice models; Mode choice; Values; Value-attitude hierarchy; Mplus (search for similar items in EconPapers)
JEL-codes: C25 C51 C87 M31 R41 (search for similar items in EconPapers)
Date: 2007
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