Accounting for stochastic variables in discrete choice models

Federico Díaz, Victor Cantillo, Julian Arellana (jarellana@uninorte.edu.co) and Juan de Dios Ortúzar

Transportation Research Part B: Methodological, 2015, vol. 78, issue C, 222-237

Abstract: The estimation of discrete choice models requires measuring the attributes describing the alternatives within each individual’s choice set. Even though some attributes are intrinsically stochastic (e.g. travel times) or are subject to non-negligible measurement errors (e.g. waiting times), they are usually assumed fixed and deterministic. Indeed, even an accurate measurement can be biased as it might differ from the original (experienced) value perceived by the individual.

Keywords: Stochastic variables; Errors in variables; Discrete choice models; Mixed logit (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (10)

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DOI: 10.1016/j.trb.2015.04.013

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