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Sampling of alternatives in Multivariate Extreme Value (MEV) models

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  • Guevara, C. Angelo
  • Ben-Akiva, Moshe E.

Abstract

We propose a methodology to achieve consistency, asymptotic normality and efficiency, while sampling alternatives in Multivariate Extreme Value (MEV) models, extending a previous result for Logit. We illustrate the methodology and study the finite sample properties of the estimators using Monte Carlo experimentation and real data on residential location choice from Lisbon, Portugal. Experiments show that the proposed methodology is practical, that it outperforms the uncorrected model, and that it yields acceptable results, even for relatively small samples of alternatives. The paper finishes with a synthesis and an analysis of the impact, limitations and potential extensions of this research.

Suggested Citation

  • Guevara, C. Angelo & Ben-Akiva, Moshe E., 2013. "Sampling of alternatives in Multivariate Extreme Value (MEV) models," Transportation Research Part B: Methodological, Elsevier, vol. 48(C), pages 31-52.
    • Handle: RePEc:eee:transb:v:48:y:2013:i:c:p:31-52
    DOI: 10.1016/j.trb.2012.11.001
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    References listed on IDEAS

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    Cited by:

    1. Jeppe Rich & Stefan L. Mabit, 2016. "Cost damping and functional form in transport models," Transportation, Springer, vol. 43(5), pages 889-912, September.
    2. Melstrom, Richard T., 2017. "The petroleum industry's response to an endangered species listing," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258281, Agricultural and Applied Economics Association.
    3. repec:eee:jotrge:v:72:y:2018:i:c:p:151-165 is not listed on IDEAS
    4. Mai, Tien & Fosgerau, Mogens & Frejinger, Emma, 2015. "A nested recursive logit model for route choice analysis," Transportation Research Part B: Methodological, Elsevier, vol. 75(C), pages 100-112.
    5. Ioannis Baraklianos & Louafi Bouzouina & Ouassim Manout & Patrick Bonnel, 2018. "To what extent do location choices of new and relocating economic establishments differ in terms of preference for accessibility?," Working Papers hal-01801448, HAL.
    6. repec:eee:transa:v:115:y:2018:i:c:p:15-31 is not listed on IDEAS
    7. repec:eee:eneeco:v:66:y:2017:i:c:p:320-327 is not listed on IDEAS
    8. Guevara, C. Angelo & Ben-Akiva, Moshe E., 2013. "Sampling of alternatives in Logit Mixture models," Transportation Research Part B: Methodological, Elsevier, vol. 58(C), pages 185-198.
    9. Mai, Tien & Frejinger, Emma & Fosgerau, Mogens & Bastin, Fabian, 2017. "A dynamic programming approach for quickly estimating large network-based MEV models," Transportation Research Part B: Methodological, Elsevier, vol. 98(C), pages 179-197.
    10. Fosgerau, Mogens & Frejinger, Emma & Karlstrom, Anders, 2013. "A link based network route choice model with unrestricted choice set," Transportation Research Part B: Methodological, Elsevier, vol. 56(C), pages 70-80.
    11. Bhat, Chandra R., 2015. "A comprehensive dwelling unit choice model accommodating psychological constructs within a search strategy for consideration set formation," Transportation Research Part B: Methodological, Elsevier, vol. 79(C), pages 161-188.
    12. Kazagli, Evanthia & Bierlaire, Michel & Flötteröd, Gunnar, 2016. "Revisiting the route choice problem: A modeling framework based on mental representations," Journal of choice modelling, Elsevier, vol. 19(C), pages 1-23.
    13. Lai, Xinjun & Bierlaire, Michel, 2015. "Specification of the cross-nested logit model with sampling of alternatives for route choice models," Transportation Research Part B: Methodological, Elsevier, vol. 80(C), pages 220-234.
    14. Papola, Andrea, 2016. "A new random utility model with flexible correlation pattern and closed-form covariance expression: The CoRUM," Transportation Research Part B: Methodological, Elsevier, vol. 94(C), pages 80-96.
    15. repec:kap:transp:v:45:y:2018:i:5:d:10.1007_s11116-017-9761-7 is not listed on IDEAS
    16. C. Jacobs-Crisioni & C. C. Koopmans, 2016. "Transport link scanner: simulating geographic transport network expansion through individual investments," Journal of Geographical Systems, Springer, vol. 18(3), pages 265-301, July.
    17. Marzano, Vittorio & Papola, Andrea & Simonelli, Fulvio & Vitillo, Roberta, 2013. "A practically tractable expression of the covariances of the Cross-Nested Logit model," Transportation Research Part B: Methodological, Elsevier, vol. 57(C), pages 1-11.

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    Keywords

    Sampling of alternatives; MEV; GEV models;

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