Economics at your fingertips  

Accommodating taste heterogeneity in railway passenger choice models based on internet booking data

Pratt Hetrakul and Cinzia Cirillo

Journal of choice modelling, 2013, vol. 6, issue C, 1-16

Abstract: This paper presents an application of advanced econometric techniques to railway passenger choices in the context of revenue management. Three modeling approaches; multinomial logit, latent class, and mixed logit models are applied to ticket purchase timing decisions and to three market segments. The analysis, based on internet booking data with limited individual variables, investigates heterogeneous characteristics of passenger behavior across railway markets that differ by the length of haul.

Keywords: Heterogeneity; Latent class; Mixed logit; Railway; Revenue management (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.1016/j.jocm.2013.04.003

Access Statistics for this article

Journal of choice modelling is currently edited by S. Hess and J.M. Rose

More articles in Journal of choice modelling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

Page updated 2021-06-30
Handle: RePEc:eee:eejocm:v:6:y:2013:i:c:p:1-16