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Accommodating multiple constraints in the multiple discrete–continuous extreme value (MDCEV) choice model

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  • Castro, Marisol
  • Bhat, Chandra R.
  • Pendyala, Ram M.
  • Jara-Díaz, Sergio R.

Abstract

Multiple-discrete continuous choice models formulated and applied in recent years consider a single linear resource constraint, which, when combined with consumer preferences, determines the optimal consumption point. However, in reality, consumers face multiple resource constraints such as those associated with time, money, and capacity. Ignoring such multiple constraints and instead using a single constraint can, and in general will, lead to poor data fit and inconsistent preference estimation, which can then have a serious negative downstream effect on forecasting and welfare/policy analysis.

Suggested Citation

  • Castro, Marisol & Bhat, Chandra R. & Pendyala, Ram M. & Jara-Díaz, Sergio R., 2012. "Accommodating multiple constraints in the multiple discrete–continuous extreme value (MDCEV) choice model," Transportation Research Part B: Methodological, Elsevier, vol. 46(6), pages 729-743.
  • Handle: RePEc:eee:transb:v:46:y:2012:i:6:p:729-743
    DOI: 10.1016/j.trb.2012.02.005
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Héctor López-Ospina & Francisco Martínez & Cristián Cortés, 2015. "A time-hierarchical microeconomic model of activities," Transportation, Springer, vol. 42(2), pages 211-236, March.
    2. Chandra Bhat & Abdul Pinjari, 2014. "Multiple discrete-continuous choice models: a reflective analysis and a prospective view," Chapters,in: Handbook of Choice Modelling, chapter 19, pages 427-454 Edward Elgar Publishing.
    3. Jara-Díaz, Sergio R. & Astroza, Sebastian & Bhat, Chandra R. & Castro, Marisol, 2016. "Introducing relations between activities and goods consumption in microeconomic time use models," Transportation Research Part B: Methodological, Elsevier, vol. 93(PA), pages 162-180.
    4. repec:eee:transb:v:110:y:2018:i:c:p:261-279 is not listed on IDEAS
    5. repec:eee:transa:v:103:y:2017:i:c:p:362-376 is not listed on IDEAS
    6. repec:eee:transa:v:103:y:2017:i:c:p:70-82 is not listed on IDEAS
    7. Sikder, Sujan & Pinjari, Abdul Rawoof, 2013. "The benefits of allowing heteroscedastic stochastic distributions in multiple discrete-continuous choice models," Journal of choice modelling, Elsevier, vol. 9(C), pages 39-56.
    8. repec:eee:transa:v:103:y:2017:i:c:p:154-171 is not listed on IDEAS
    9. repec:eee:eejocm:v:24:y:2017:i:c:p:75-95 is not listed on IDEAS
    10. Jara-Díaz, Sergio & Rosales-Salas, Jorge, 2017. "Beyond transport time: A review of time use modeling," Transportation Research Part A: Policy and Practice, Elsevier, vol. 97(C), pages 209-230.
    11. Chandra R. Bhat & Subodh K. Dubey & Mohammad Jobair Bin Alam & Waleed H. Khushefati, 2015. "A New Spatial Multiple Discrete-Continuous Modeling Approach To Land Use Change Analysis," Journal of Regional Science, Wiley Blackwell, vol. 55(5), pages 801-841, November.
    12. Pinjari, Abdul Rawoof & Augustin, Bertho & Sivaraman, Vijayaraghavan & Faghih Imani, Ahmadreza & Eluru, Naveen & Pendyala, Ram M., 2016. "Stochastic frontier estimation of budgets for Kuhn–Tucker demand systems: Application to activity time-use analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 88(C), pages 117-133.
    13. repec:eee:transa:v:104:y:2017:i:c:p:1-20 is not listed on IDEAS

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