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Econometric model for the analysis of the transportation mode choice in domestic trips - the role of latent variables

Author

Listed:
  • Claudia Muñoz

    (Universidad de Antioquia)

  • Beatriz Elena Pineda Uribe

    (Politécnico Colombiano Jaime Isaza Cadavid)

  • Margarita Rosa Gómez

    (Universidad Nacional de Colombia)

Abstract

Safety and comfort perceptions related to travel by bus or plane could affect passenger choice behavior in domestic trips. In this research, the safety and comfort latent variables were incorporated into the econometric models to study the choice of transportation mode for passengers who travel along the Medellin - Barranquilla route. Variables associated with the transportation mode such as cost, travel time, and frequency were included in the calibrated model and perceptional variables. The discrete choice model with latent variables (LVs) found in this research was sequentially estimated. Firstly, the parameters of Multiple Indicators Multiple Causes Model (MIMIC) were found, and then the hybrid choice model was calibrated. The calibrated model allowed us to identify the variables that affect the decision-making process for air and land transportation mode choice. The results are an effective decision-making tool for companies that operate in each of the transportation modes

Suggested Citation

  • Claudia Muñoz & Beatriz Elena Pineda Uribe & Margarita Rosa Gómez, 2022. "Econometric model for the analysis of the transportation mode choice in domestic trips - the role of latent variables," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 96, pages 145-169, January-J.
    • Handle: RePEc:lde:journl:y:2022:i:96:p:145-169
    DOI: 10.17533/udea.le.n96a345079
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    More about this item

    Keywords

    air transportation; econometric models; transportation demand;
    All these keywords.

    JEL classification:

    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation

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