Discrete Choice Methods with Simulation

Discrete Choice Methods with Simulation
Author: Kenneth Train
Publisher: Cambridge University Press
Total Pages: 399
Release: 2009-07-06
Genre: Business & Economics
ISBN: 0521766559

This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.

Discrete Choice Modelling and Air Travel Demand

Discrete Choice Modelling and Air Travel Demand
Author: Professor Laurie A Garrow
Publisher: Ashgate Publishing, Ltd.
Total Pages: 327
Release: 2012-10-01
Genre: Technology & Engineering
ISBN: 1409486338

In recent years, airline practitioners and academics have started to explore new ways to model airline passenger demand using discrete choice methods. This book provides an introduction to discrete choice models and uses extensive examples to illustrate how these models have been used in the airline industry. These examples span network planning, revenue management, and pricing applications. Numerous examples of fundamental logit modeling concepts are covered in the text, including probability calculations, value of time calculations, elasticity calculations, nested and non-nested likelihood ratio tests, etc. The core chapters of the book are written at a level appropriate for airline practitioners and graduate students with operations research or travel demand modeling backgrounds. Given the majority of discrete choice modeling advancements in transportation evolved from urban travel demand studies, the introduction first orients readers from different backgrounds by highlighting major distinctions between aviation and urban travel demand studies. This is followed by an in-depth treatment of two of the most common discrete choice models, namely the multinomial and nested logit models. More advanced discrete choice models are covered, including mixed logit models and generalized extreme value models that belong to the generalized nested logit class and/or the network generalized extreme value class. An emphasis is placed on highlighting open research questions associated with these models that will be of particular interest to operations research students. Practical modeling issues related to data and estimation software are also addressed, and an extensive modeling exercise focused on the interpretation and application of statistical tests used to guide the selection of a preferred model specification is included; the modeling exercise uses itinerary choice data from a major airline. The text concludes with a discussion of on-going customer modeling research in aviation. Discrete Choice Modelling and Air Travel Demand is enriched by a comprehensive set of technical appendices that will be of particular interest to advanced students of discrete choice modeling theory. The appendices also include detailed proofs of the multinomial and nested logit models and derivations of measures used to represent competition among alternatives, namely correlation, direct-elasticities, and cross-elasticities.

Discrete Choice Analysis

Discrete Choice Analysis
Author: Moshe E. Ben-Akiva
Publisher: MIT Press
Total Pages: 424
Release: 1985
Genre: Architecture
ISBN: 9780262022170

Discrete Choice Analysis presents these results in such a way that they are fully accessible to the range of students and professionals who are involved in modelling demand and consumer behavior in general or specifically in transportation - whether from the point of view of the design of transit systems, urban and transport economics, public policy, operations research, or systems management and planning. The methods of discrete choice analysis and their applications in the modelling of transportation systems constitute a comparatively new field that has largely evolved over the past 15 years. Since its inception, however, the field has developed rapidly, and this is the first text and reference work to cover the material systematically, bringing together the scattered and often inaccessible results for graduate students and professionals. Discrete Choice Analysis presents these results in such a way that they are fully accessible to the range of students and professionals who are involved in modelling demand and consumer behavior in general or specifically in transportation - whether from the point of view of the design of transit systems, urban and transport economics, public policy, operations research, or systems management and planning. The introductory chapter presents the background of discrete choice analysis and context of transportation demand forecasting. Subsequent chapters cover, among other topics, the theories of individual choice behavior, binary and multinomial choice models, aggregate forecasting techniques, estimation methods, tests used in the process of model development, sampling theory, the nested-logit model, and systems of models. Discrete Choice Analysis is ninth in the MIT Press Series in Transportation Studies, edited by Marvin Manheim.

Using Discrete Choice Experiments to Value Health and Health Care

Using Discrete Choice Experiments to Value Health and Health Care
Author: Mandy Ryan
Publisher: Springer Science & Business Media
Total Pages: 265
Release: 2007-10-23
Genre: Business & Economics
ISBN: 1402057539

This work takes a fresh and contemporary look at the growing interest in the development and application of discrete choice experiments (DCEs) within the field of health economics. The book comprises chapters by highly regarded academics with experience of applying DCEs in the area of health. Thus the book is relevant to post-graduate students and applied researchers with an interest in the use of DCEs for valuing health and health care and has international appeal.

Safe Mobility

Safe Mobility
Author: Dominique Lord
Publisher: Emerald Group Publishing
Total Pages: 511
Release: 2018-04-18
Genre: Transportation
ISBN: 1787148920

This book increases the level of knowledge on road safety contexts, issues and challenges; shares what can currently be done to address the variety of issues; and points to what needs to be done to make further gains in road safety.

The Routledge Handbook of Transport Economics

The Routledge Handbook of Transport Economics
Author: Jonathan Cowie
Publisher: Routledge
Total Pages: 440
Release: 2017-08-07
Genre: Business & Economics
ISBN: 1317537963

The Routledge Handbook of Transport Economics offers the first state of the art overview of the discipline of transport economics as it stands today, reflective of key research and policy. Transport is an important area of study and one which is problem rich, stimulating a great deal of debate in areas which impact on everyday lives. Much of this focuses on the practicalities of the modern-day phenomenon of mass movement and all of the issues which surround it. The discipline of economics is central to this debate, and consequently the study and application of transport economics has a chief role to play in seeking to address subjects relating to major transport issues. It can be argued that at the very heart of any transport issue or problem lies the underlying economics of the situation – understand that and you alleviate the problem. Featuring contributions from world-leading scholars and practitioners from across the globe, all of the chapters within this book are written from a practical perspective; theory is applied and developed using real-world examples. The book examines concepts, issues, ideas and practicalities of transport provision in five key topic areas: public transport public transport reform economic development and transport modelling transport and the environment freight transport. A real strength of the book is in linking theory to practice, and hence the ‘economics’ that are examined in this text are not the economics of the abstract, but rather the economics of everyday living. Practical and insightful, this volume is an essential reference for any student or researcher working in all areas of transport provision, ranging from planning, appraisal, regulation and freight; and for all practitioners looking to develop their professional knowledge and who are seeking professional accreditation.

Handbook of Regional Science

Handbook of Regional Science
Author: Manfred M. Fischer
Publisher: Springer
Total Pages: 0
Release: 2013-09-17
Genre: Business & Economics
ISBN: 9783642234293

The Handbook of Regional Science is a multi-volume reference work providing a state-of-the-art knowledge on regional science composed by renowned scientists in the field. The Handbook is intended to serve the academic needs of graduate students, and junior and senior scientists in regional science and related fields, with an interest in studying local and regional socio-economic issues. The multi-volume handbook seeks to cover the field of regional science comprehensively, including areas such as regional housing and labor markets, regional economic growth, innovation and regional economic development, new and evolutionary economic geography, location and interaction, the environment and natural resources, spatial analysis and geo-computation as well as spatial statistics and econometrics.