NDLI: Revealing additional dimensions of preference heterogeneity in a latent class mixed multinomial logit model

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Revealing additional dimensions of preference heterogeneity in a latent class mixed multinomial logit model

Content Provider	Scilit
Author	Greene, William Hensher, David A.
Copyright Year	2013
Description	Latent class models offer an alternative perspective to the popular mixed logit form, replacing the continuous distribution with a discrete distribution in which preference heterogeneity is captured by membership of distinct classes of utility description. Within each class, preference homogeneity is usually assumed, although interactions with observed contextual effects are permissible. A natural extension of the fixed parameter latent class model is a random parameter latent class model which allows for another layer of preference heterogeneity within each class. This article sets out the random parameter latent class model and illustrates its applications using a stated choice data set on alternative freight distribution attribute packages pivoted around a recent trip in Australia.
Related Links	http://w4.stern.nyu.edu/economics/docs/workingpapers/2010/Greene_RP_LCM_paper.pdf
Ending Page	1902
Page Count	6
Starting Page	1897
ISSN	00036846
e-ISSN	14664283
DOI	10.1080/00036846.2011.650325
Journal	Applied Economics
Issue Number	14
Volume Number	45
Language	English
Publisher	Informa UK Limited
Publisher Date	2013-05-01
Access Restriction	Open
Subject Keyword	Journal: Applied Economics Transportation Latent Class Mixed Multinomial Logit Random Parameters Preference Heterogeneity Stated Choice Experiment Freight Distribution C10 C25 C51 C90 L92
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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