Hybrid choice models

Maya Abou-Zeid and Moshe Ben-Akiva

Chapter 18 in Handbook of Choice Modelling, 2024, pp 489-521 from Edward Elgar Publishing

Abstract: This chapter reviews the Hybrid Choice model (HCM) which integrates latent variable models with discrete choice models, and discusses its advantages. The chapter reviews the frameworks and formulations of the standard discrete choice model and the HCM and then discusses four advantages of the HCM: ability to explicitly model unobserved heterogeneity, increased statistical efficiency, enhanced behavioral realism, and extended policy relevance. Examples drawing on three travel behavior applications are presented to illustrate the advantages. The chapter concludes by describing the research challenges for future extensions of the HCM.

Keywords: Economics and Finance; Environment; Geography; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2024
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