Econometric model for the analysis of the transportation mode choice in domestic trips - the role of latent variables

Claudia Muñoz (), Beatriz Elena Pineda Uribe () and Margarita Rosa Gómez ()
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Claudia Muñoz: Universidad de Antioquia
Beatriz Elena Pineda Uribe: Politécnico Colombiano Jaime Isaza Cadavid
Margarita Rosa Gómez: Universidad Nacional de Colombia

Lecturas de Economía, 2022, issue 96, 145-169

Abstract: Safety and comfort perceptions related to travel by bus or plane could affect passenger choice behavior in domestic trips. In this research, the safety and comfort latent variables were incorporated into the econometric models to study the choice of transportation mode for passengers who travel along the Medellin - Barranquilla route. Variables associated with the transportation mode such as cost, travel time, and frequency were included in the calibrated model and perceptional variables. The discrete choice model with latent variables (LVs) found in this research was sequentially estimated. Firstly, the parameters of Multiple Indicators Multiple Causes Model (MIMIC) were found, and then the hybrid choice model was calibrated. The calibrated model allowed us to identify the variables that affect the decision-making process for air and land transportation mode choice. The results are an effective decision-making tool for companies that operate in each of the transportation modes

Keywords: air transportation; econometric models; transportation demand (search for similar items in EconPapers)
JEL-codes: L93 R15 R41 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:lde:journl:y:2022:i:96:p:145-169

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DOI: 10.17533/udea.le.n96a345079

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