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Hybrid Choice Models: Progress and Challenges

Author

Listed:
  • 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)

Abstract

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.

Suggested Citation

  • Ben-Akiva, Moshe & McFadden, Daniel & Train, Kenneth & Börsch-Supan, Axel, 2002. "Hybrid Choice Models: Progress and Challenges," Sonderforschungsbereich 504 Publications 02-29, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    • Handle: RePEc:xrs:sfbmaa:02-29
    Note: Financial support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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    1. Denis Bolduc & Bernard Fortin & Stephen Gordon, 1997. "Multinomial Probit Estimation of Spatially Interdependent Choices: An Empirical Comparison of Two New Techniques," International Regional Science Review, , vol. 20(1-2), pages 77-101, April.
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    3. Daniel McFadden, 2001. "Economic Choices," American Economic Review, American Economic Association, vol. 91(3), pages 351-378, June.
    4. Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470.
    5. Bolduc, Denis, 1999. "A practical technique to estimate multinomial probit models in transportation," Transportation Research Part B: Methodological, Elsevier, vol. 33(1), pages 63-79, February.
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    JEL classification:

    • Z00 - Other Special Topics - - General - - - General

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