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Integrating latent variables in discrete choice models – How higher-order values and attitudes determine consumer choice

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Author Info

  • Dirk Temme
  • Marcel Paulssen
  • Till Dannewald

Abstract

Integrated choice and latent variable (ICLV) models represent a promising new class of models which merge classic choice models with the structural equation approach (SEM) for latent variables. Despite their conceptual appeal, to date applications of ICLV models in marketing are still rare. The present study on travel mode choice clearly demonstrates the value of ICLV models to enhance understanding of choice processes. In addition to the usually studied directly observable variables such as travel time, we show how abstract motivations such as power and hedonisms as well as attitudes such as a desire for flexibility impact on travel mode choice. Further, we can show that it is possible to estimate ICLV models with the widely available structural equation modeling package Mplus. This finding is likely to encourage wider usage of this appealing model class in the marketing field.

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Bibliographic Info

Paper provided by Sonderforschungsbereich 649, Humboldt University, Berlin, Germany in its series SFB 649 Discussion Papers with number SFB649DP2007-065.

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Length: 42 pages
Date of creation: Dec 2007
Date of revision:
Handle: RePEc:hum:wpaper:sfb649dp2007-065

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Keywords: Hybrid choice models; Mode choice; Values; Value-attitude hierarchy; Mplus;

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References

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  1. Axel Börsch-Supan & Moshe Ben-Akiva & Kenneth Train & Daniel McFadden, 2002. "Hybrid Choice Models: Progress and Challenges," MEA discussion paper series, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy 02009, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  2. McFadden, Daniel, 1974. "The measurement of urban travel demand," Journal of Public Economics, Elsevier, Elsevier, vol. 3(4), pages 303-328, November.
  3. Train, Kenneth, 1980. "A Structured Logit Model of Auto Ownership and Mode Choice," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 47(2), pages 357-70, January.
  4. Bresson, Georges & Dargay, Joyce & Madre, Jean-Loup & Pirotte, Alain, 2004. "Economic and structural determinants of the demand for public transport: an analysis on a panel of French urban areas using shrinkage estimators," Transportation Research Part A: Policy and Practice, Elsevier, Elsevier, vol. 38(4), pages 269-285, May.
  5. Walker, Joan & Ben-Akiva, Moshe, 2002. "Generalized random utility model," Mathematical Social Sciences, Elsevier, Elsevier, vol. 43(3), pages 303-343, July.
  6. Vredin Johansson, Maria & Heldt, Tobias & Johansson, Per, 2005. "Latent Variables in a Travel Mode Choice Model: Attitudinal and Behavioural Indicator Variables," Working Paper Series, Uppsala University, Department of Economics 2005:5, Uppsala University, Department of Economics.
  7. Vredin Johansson, Maria & Heldt, Tobias & Johansson, Per, 2006. "The effects of attitudes and personality traits on mode choice," Transportation Research Part A: Policy and Practice, Elsevier, Elsevier, vol. 40(6), pages 507-525, July.
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Cited by:
  1. Olaru, Doina & Smith, Brett & Taplin, John H.E., 2011. "Residential location and transit-oriented development in a new rail corridor," Transportation Research Part A: Policy and Practice, Elsevier, Elsevier, vol. 45(3), pages 219-237, March.

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