The inverse power transformation logit and dogit mode choice models
This paper explores the properties of inverse Box-Cox and Box-Tukey transformations applied to the exponential functions of logit and dogit mode choice models. It is suggested that inverse power transformations allow for the introduction of modeler ignorance in the models and solve the "thin equal tails" problem of the logit model; it is also shown that they allow for asymmetry of response functions in both logit and dogit models by introducing alternative-specific parameters which make cross elasticities of demand among alternatives generally asymmetric. In the dogit model, modeler ignorance and consumer captivity remain conceptually distinct. Standard logit and dogit models appear as very special "perfect knowledge" cases in broad spectra of models which also include, among others, the reciprocal extreme value or log-Weibull variants. These improvements over the simple symmetric-thin-equal-tail-perfect-knowledge logit and the symmetric-pure-captivity dogit are achieved at the cost of introducing at the most two new parameters per alternative considered in the original logit and dogit mode choice models.
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Volume (Year): 15 (1981)
Issue (Month): 2 (April)
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