Ben-Akiva, Moshe () (Massachusetts Institute of Technology) McFadden, Daniel () (University of California at Berkeley) Train, Kenneth () (University of California at Berkeley) Börsch-Supan, Axel () (Sonderforschungsbereich 504)
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We discuss the development of predictive choice models that go beyond the random utility model in its narrowest formulation. Such approaches incorporate several elements of cognitive process that have been identified as important to the choice process, including strong dependence on history and context, perception formation, and latent constraints. A flexible and practical hybrid choice model is presented that integrates many types of discrete choice modeling methods, draws on different types of data, and allows for flexible disturbances and explicit modeling of latent psychological variables, heterogeneity, and latent segmentation. Both progress and challanges related to the development of the hybrid choice model are presented.
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Paper provided by Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim in its series Sonderforschungsbereich 504 Publications with number
02-29.
Length: 15 pages Date of creation: 22 Mar 2002 Date of revision: Handle: RePEc:xrs:sfbmaa:02-29
Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged. Contact details of provider: Postal: D-68131 Mannheim Phone: (49) (0) 621-292-2547 Fax: (49) (0) 621-292-5594 Email: Web page: http://www.sfb504.uni-mannheim.de/ More information through EDIRC
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Daniel McFadden, 2001.
"Economic Choices,"
American Economic Review,
American Economic Association, vol. 91(3), pages 351-378, June.
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Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
Daniel McFadden & Albert Bemmaor & Francis Caro & Jeff Dominitz & Byung-Hill Jun & Arthur Lewbel & Rosa Matzkin & Francesca Molinari & Norbert Schwarz & Robert Willis & Joachim Winter, 2005.
"Statistical Analysis of Choice Experiments and Surveys,"
Marketing Letters,
Springer, vol. 16(3), pages 183-196, December.
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