On the identification of thresholds in travel choice modelling

Andy Obermeyer, Martin Treiber and Christos Evangelinos

Journal of choice modelling, 2015, vol. 17, issue C, 1-9

Abstract: In this paper we demonstrate different approaches for estimating thresholds with respect to attribute differences in discrete choice models. The proposed new transformation functions can easily be applied in estimation software. The usefulness of these functions is tested with synthetic data. Extensive simulation shows that many observations are necessary to detect thresholds. And furthermore, the value of travel time savings of a model ignoring these thresholds is biased. The application to stated choice data reveals a significant threshold. However, the cause and the precise form of this threshold cannot be inferred from the data. The presented approach might also be useful to model thresholds in other contexts of choice behaviour.

Keywords: Discrete choice model; Logit model; Value of travel time savings; Threshold (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eejocm:v:17:y:2015:i:c:p:1-9

DOI: 10.1016/j.jocm.2015.12.001

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