Forecasting new product penetration with flexible substitution patterns

David Brownstone and Kenneth Train ()

University of California Transportation Center, Working Papers from University of California Transportation Center

Abstract: We describe and apply choice models, including generalizations of logit called 'mixed logits,' that do not exhibit the restrictive 'independence from irrelevant alternatives' property and can approximate any substitution pattern. The models are estimated on data from a stated-preference survey that elicited customers' preferences among gas, electric, methanol, and CNG vehicles with various attributes.

Keywords: Mixed logit; Random-coefficients logit; Probit; Simulation; Social and Behavioral Sciences (search for similar items in EconPapers)
Date: 1999-01-01
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Citations: View citations in EconPapers (295)

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Related works:
Working Paper: Forecasting new product penetration with flexible substitution patterns (1999)
Working Paper: Forecasting new product penetration with flexible substitution patterns (1999)
Working Paper: Forecasting new product penetration with flexible substitution patterns (1999)
Journal Article: Forecasting new product penetration with flexible substitution patterns (1998)
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