Online Discrete Choice Models

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Discrete Choice Methods with Simulation

Author : Kenneth Train
Publisher : Cambridge University Press
ISBN 13 : 0521766559
Total Pages : 399 pages
Book Rating : 4.5/5 (217 download)

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Book Synopsis Discrete Choice Methods with Simulation by : Kenneth Train

Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2009-07-06 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.

Discrete Choice Methods with Simulation

Author : Kenneth Train
Publisher : Cambridge University Press
ISBN 13 : 9780521017152
Total Pages : 346 pages
Book Rating : 4.0/5 (171 download)

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Book Synopsis Discrete Choice Methods with Simulation by : Kenneth Train

Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2003-01-13 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of contents

Online Discrete Choice Models

Author : Mazen Salah Danaf
Publisher :
ISBN 13 :
Total Pages : 118 pages
Book Rating : 4.:/5 (112 download)

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Book Synopsis Online Discrete Choice Models by : Mazen Salah Danaf

Download or read book Online Discrete Choice Models written by Mazen Salah Danaf and published by . This book was released on 2019 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discrete choice models have been widely applied in different fields to better understand behavior and forecast market shares. Because of their ability to capture taste heterogeneity, logit mixture models have gained increasing interest among researchers and practitioners. However, since the estimation of these models is computationally expensive, their applications have been limited to offline contexts. On the other hand, online applications (such as recommender systems) require users' preferences to be updated frequently and dynamically. The objective of this dissertation is to develop a methodology for estimating discrete choice models online, while accounting for inter- and intra-consumer heterogeneity. An offline-online framework is proposed to update individual-specific parameters after each choice using Bayesian estimation. The online estimator is computationally efficient, as it uses the data of the individual making the choice only in updating his/her individual preferences. Periodically, data from multiple individuals are pooled, and population parameters are updated offline. Online estimation allows for new and innovative applications of discrete choice models such as personalized recommendations, dynamic personalized pricing, and real-time individual forecasting. This methodology subsumes the utility-based advantages of discrete choice models and the personalization capabilities of common recommendation techniques by making use of all the available data including user-specific, item specific, and contextual variables. In order to enhance online learning, two extensions are proposed to the logit mixture model with inter- and intra-consumer heterogeneity. In the first extension, socio-demographic variables and contextual variables are used to model systematic inter- and intra-consumer taste heterogeneity respectively. In the second extension, a latent class model is used to allow for more flexibility in modeling the inter- and intra-consumer mixing distributions. Finally, the online estimation methodology is applied to Tripod, an app-based travel advisor that aims to incentivize and shift travelers' behavior towards more sustainable alternatives. Stated preferences data are collected in the Greater Boston Area and used to estimate the population parameters, which are then used by the app in online estimation. Using the collected data, a large number of synthetic users is simulated, and the recommendation system is tested over several days, and under different scenarios. The results show that the average hit-rate generally increases over time as we learn individual preferences and population parameters.

Choice Modelling

Author : Stephane Hess
Publisher : Edward Elgar Publishing
ISBN 13 : 1781007276
Total Pages : 322 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Choice Modelling by : Stephane Hess

Download or read book Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This collection of papers, by leading researchers in the field, provides an excellent view of the current state of research and applications. Exciting new techniques are presented, and realistic solutions are offered to issues that arise in applied work. It is an admirably rich volume, offering valuable insights for all readers of choice modeling.' Kenneth Train, University of California, Berkeley and NERA Economic Consulting, Inc., San Francisco, California, US 'I'm an enthusiastic fan of the ICMC, where researchers are friendly, genuinely interested in learning from and helping one another. There is much to learn because each discipline brings a different perspective to the field and to theoretical and applied problems in decision-making and choice behavior. The ICMC embodies the philosophy that most real choice problems are complex and require a cross-disciplinary approach. The papers in this volume represent an eclectic cross-section of the topics covered by key researchers in the field. I look forward to getting our PhD students and postdocs stuck into them.' Jordan Louviere, University of Technology Sydney, Australia Choice modelling has been one of the most active fields in economics over recent years. This valuable new book contains leading contributions from academics and practitioners from across the different areas of study where choice modelling is a key analytical technique, drawn from a recent international conference. Choice models explain the behaviour of individuals by quantifying their values, responses and perceptions of attributes describing the various options (alternatives) available to them. Policy makers and planners have long since recognised the potential of using choice models for guidance purposes, with applications in fields as diverse as transport analysis, healthcare, telecommunications, public service evaluation and energy. The unique mix of theoretical and applied chapters will appeal to academics, students, researchers and practitioners in various fields, as well as anyone with a general interest in the subject.

Operations Research and Decision Aid Methodologies in Traffic and Transportation Management

Author : Martine Labbe
Publisher : Springer Science & Business Media
ISBN 13 : 9783540646525
Total Pages : 364 pages
Book Rating : 4.6/5 (465 download)

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Book Synopsis Operations Research and Decision Aid Methodologies in Traffic and Transportation Management by : Martine Labbe

Download or read book Operations Research and Decision Aid Methodologies in Traffic and Transportation Management written by Martine Labbe and published by Springer Science & Business Media. This book was released on 1998-10-20 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a collection of state-of-the-art surveys on topics at the interface between transportation modeling and operations research given by leading international experts. Based on contributions to a NATO workshop, the surveys are up-to-date and rigorous presentations or applications of quantitative methods in the area. The subjects covered include dynamic traffic simulation techniques and dynamic routing in congested networks, operation and control of traffic management tools, optimized transportation data collection, and vehicle routing problems.

Applied Discrete-Choice Modelling

Author : David A. Hensher
Publisher : Routledge
ISBN 13 : 1351140752
Total Pages : 485 pages
Book Rating : 4.3/5 (511 download)

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Book Synopsis Applied Discrete-Choice Modelling by : David A. Hensher

Download or read book Applied Discrete-Choice Modelling written by David A. Hensher and published by Routledge. This book was released on 2018-04-09 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1981. Discrete-choice modelling is an area of econometrics where significant advances have been made at the research level. This book presents an overview of these advances, explaining the theory underlying the model, and explores its various applications. It shows how operational choice models can be used, and how they are particularly useful for a better understanding of consumer demand theory. It discusses particular problems connected with the model and its use, and reports on the authors’ own empirical research. This is a comprehensive survey of research developments in discrete choice modelling and its applications.

Applications of Simulation Methods in Environmental and Resource Economics

Author : Riccardo Scarpa
Publisher : Springer Science & Business Media
ISBN 13 : 9781402036835
Total Pages : 456 pages
Book Rating : 4.0/5 (368 download)

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Book Synopsis Applications of Simulation Methods in Environmental and Resource Economics by : Riccardo Scarpa

Download or read book Applications of Simulation Methods in Environmental and Resource Economics written by Riccardo Scarpa and published by Springer Science & Business Media. This book was released on 2005-08-12 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simulation methods are revolutionizing the practice of applied economic analysis. In this book, leading researchers from around the world discuss interpretation issues, similarities and differences across alternative models, and propose practical solutions for the choice of the model and programming. Case studies show the practical use and the results brought forth by the different methods.

Simulation-based Inference in Econometrics

Author : Roberto Mariano
Publisher : Cambridge University Press
ISBN 13 : 9780521591126
Total Pages : 488 pages
Book Rating : 4.5/5 (911 download)

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Book Synopsis Simulation-based Inference in Econometrics by : Roberto Mariano

Download or read book Simulation-based Inference in Econometrics written by Roberto Mariano and published by Cambridge University Press. This book was released on 2000-07-20 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This substantial volume has two principal objectives. First it provides an overview of the statistical foundations of Simulation-based inference. This includes the summary and synthesis of the many concepts and results extant in the theoretical literature, the different classes of problems and estimators, the asymptotic properties of these estimators, as well as descriptions of the different simulators in use. Second, the volume provides empirical and operational examples of SBI methods. Often what is missing, even in existing applied papers, are operational issues. Which simulator works best for which problem and why? This volume will explicitly address the important numerical and computational issues in SBI which are not covered comprehensively in the existing literature. Examples of such issues are: comparisons with existing tractable methods, number of replications needed for robust results, choice of instruments, simulation noise and bias as well as efficiency loss in practice.

Applied Choice Analysis

Author : David A. Hensher
Publisher : Cambridge University Press
ISBN 13 : 1107092647
Total Pages : 1219 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Applied Choice Analysis by : David A. Hensher

Download or read book Applied Choice Analysis written by David A. Hensher and published by Cambridge University Press. This book was released on 2015-06-11 with total page 1219 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fully updated second edition of this popular introduction to applied choice analysis, written for graduate students, researchers, professionals and consultants.

Discrete Choice Analysis

Author : Moshe Ben-Akiva
Publisher : MIT Press
ISBN 13 : 0262536404
Total Pages : 414 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Discrete Choice Analysis by : Moshe Ben-Akiva

Download or read book Discrete Choice Analysis written by Moshe Ben-Akiva and published by MIT Press. This book was released on 2018-04-20 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discrete Choice Analysis presents these results in such a way that they are fully accessible to the range of students and professionals who are involved in modelling demand and consumer behavior in general or specifically in transportation - whether from the point of view of the design of transit systems, urban and transport economics, public policy, operations research, or systems management and planning. The methods of discrete choice analysis and their applications in the modelling of transportation systems constitute a comparatively new field that has largely evolved over the past 15 years. Since its inception, however, the field has developed rapidly, and this is the first text and reference work to cover the material systematically, bringing together the scattered and often inaccessible results for graduate students and professionals. Discrete Choice Analysis presents these results in such a way that they are fully accessible to the range of students and professionals who are involved in modelling demand and consumer behavior in general or specifically in transportation - whether from the point of view of the design of transit systems, urban and transport economics, public policy, operations research, or systems management and planning. The introductory chapter presents the background of discrete choice analysis and context of transportation demand forecasting. Subsequent chapters cover, among other topics, the theories of individual choice behavior, binary and multinomial choice models, aggregate forecasting techniques, estimation methods, tests used in the process of model development, sampling theory, the nested-logit model, and systems of models. Discrete Choice Analysis is ninth in the MIT Press Series in Transportation Studies, edited by Marvin Manheim.

Discrete Choice Modelling and Air Travel Demand

Author : Laurie A. Garrow
Publisher : Routledge
ISBN 13 : 131714970X
Total Pages : 317 pages
Book Rating : 4.3/5 (171 download)

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Book Synopsis Discrete Choice Modelling and Air Travel Demand by : Laurie A. Garrow

Download or read book Discrete Choice Modelling and Air Travel Demand written by Laurie A. Garrow and published by Routledge. This book was released on 2016-05-23 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, airline practitioners and academics have started to explore new ways to model airline passenger demand using discrete choice methods. This book provides an introduction to discrete choice models and uses extensive examples to illustrate how these models have been used in the airline industry. These examples span network planning, revenue management, and pricing applications. Numerous examples of fundamental logit modeling concepts are covered in the text, including probability calculations, value of time calculations, elasticity calculations, nested and non-nested likelihood ratio tests, etc. The core chapters of the book are written at a level appropriate for airline practitioners and graduate students with operations research or travel demand modeling backgrounds. Given the majority of discrete choice modeling advancements in transportation evolved from urban travel demand studies, the introduction first orients readers from different backgrounds by highlighting major distinctions between aviation and urban travel demand studies. This is followed by an in-depth treatment of two of the most common discrete choice models, namely the multinomial and nested logit models. More advanced discrete choice models are covered, including mixed logit models and generalized extreme value models that belong to the generalized nested logit class and/or the network generalized extreme value class. An emphasis is placed on highlighting open research questions associated with these models that will be of particular interest to operations research students. Practical modeling issues related to data and estimation software are also addressed, and an extensive modeling exercise focused on the interpretation and application of statistical tests used to guide the selection of a preferred model specification is included; the modeling exercise uses itinerary choice data from a major airline. The text concludes with a discussion of on-going customer modeling research in aviation. Discrete Choice Modelling and Air Travel Demand is enriched by a comprehensive set of technical appendices that will be of particular interest to advanced students of discrete choice modeling theory. The appendices also include detailed proofs of the multinomial and nested logit models and derivations of measures used to represent competition among alternatives, namely correlation, direct-elasticities, and cross-elasticities.

Context Dependent Discrete Choice Models and Assortment Optimization for Online Retail

Author : Uzma Mushtaque
Publisher :
ISBN 13 :
Total Pages : 420 pages
Book Rating : 4.:/5 (126 download)

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Book Synopsis Context Dependent Discrete Choice Models and Assortment Optimization for Online Retail by : Uzma Mushtaque

Download or read book Context Dependent Discrete Choice Models and Assortment Optimization for Online Retail written by Uzma Mushtaque and published by . This book was released on 2017 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Discrete Choice Modelling and Air Travel Demand

Author : Professor Laurie A Garrow
Publisher : Ashgate Publishing, Ltd.
ISBN 13 : 1409486338
Total Pages : 327 pages
Book Rating : 4.4/5 (94 download)

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Book Synopsis Discrete Choice Modelling and Air Travel Demand by : Professor Laurie A Garrow

Download or read book Discrete Choice Modelling and Air Travel Demand written by Professor Laurie A Garrow and published by Ashgate Publishing, Ltd.. This book was released on 2012-10-01 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, airline practitioners and academics have started to explore new ways to model airline passenger demand using discrete choice methods. This book provides an introduction to discrete choice models and uses extensive examples to illustrate how these models have been used in the airline industry. These examples span network planning, revenue management, and pricing applications. Numerous examples of fundamental logit modeling concepts are covered in the text, including probability calculations, value of time calculations, elasticity calculations, nested and non-nested likelihood ratio tests, etc. The core chapters of the book are written at a level appropriate for airline practitioners and graduate students with operations research or travel demand modeling backgrounds. Given the majority of discrete choice modeling advancements in transportation evolved from urban travel demand studies, the introduction first orients readers from different backgrounds by highlighting major distinctions between aviation and urban travel demand studies. This is followed by an in-depth treatment of two of the most common discrete choice models, namely the multinomial and nested logit models. More advanced discrete choice models are covered, including mixed logit models and generalized extreme value models that belong to the generalized nested logit class and/or the network generalized extreme value class. An emphasis is placed on highlighting open research questions associated with these models that will be of particular interest to operations research students. Practical modeling issues related to data and estimation software are also addressed, and an extensive modeling exercise focused on the interpretation and application of statistical tests used to guide the selection of a preferred model specification is included; the modeling exercise uses itinerary choice data from a major airline. The text concludes with a discussion of on-going customer modeling research in aviation. Discrete Choice Modelling and Air Travel Demand is enriched by a comprehensive set of technical appendices that will be of particular interest to advanced students of discrete choice modeling theory. The appendices also include detailed proofs of the multinomial and nested logit models and derivations of measures used to represent competition among alternatives, namely correlation, direct-elasticities, and cross-elasticities.

Random Regret-based Discrete Choice Modeling

Author : Caspar G. Chorus
Publisher : Springer Science & Business Media
ISBN 13 : 3642291503
Total Pages : 60 pages
Book Rating : 4.6/5 (422 download)

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Book Synopsis Random Regret-based Discrete Choice Modeling by : Caspar G. Chorus

Download or read book Random Regret-based Discrete Choice Modeling written by Caspar G. Chorus and published by Springer Science & Business Media. This book was released on 2012-04-07 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This tutorial presents a hands-on introduction to a new discrete choice modeling approach based on the behavioral notion of regret-minimization. This so-called Random Regret Minimization-approach (RRM) forms a counterpart of the Random Utility Maximization-approach (RUM) to discrete choice modeling, which has for decades dominated the field of choice modeling and adjacent fields such as transportation, marketing and environmental economics. Being as parsimonious as conventional RUM-models and compatible with popular software packages, the RRM-approach provides an alternative and appealing account of choice behavior. Rather than providing highly technical discussions as usually encountered in scholarly journals, this tutorial aims to allow readers to explore the RRM-approach and its potential and limitations hands-on and based on a detailed discussion of examples. This tutorial is written for students, scholars and practitioners who have a basic background in choice modeling in general and RUM-modeling in particular. It has been taken care of that all concepts and results should be clear to readers that do not have an advanced knowledge of econometrics.

Foundations of Stated Preference Elicitation

Author : Moshe Ben-Akiva
Publisher : Foundations and Trends (R) in Econometrics
ISBN 13 : 9781680835267
Total Pages : 144 pages
Book Rating : 4.8/5 (352 download)

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Book Synopsis Foundations of Stated Preference Elicitation by : Moshe Ben-Akiva

Download or read book Foundations of Stated Preference Elicitation written by Moshe Ben-Akiva and published by Foundations and Trends (R) in Econometrics. This book was released on 2019-01-28 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides stated preference data collection methods, discrete choice models, and statistical analysis tools that can be used to forecast demand and assess welfare impacts for new or modified products or services in real markets, and summarize the conditions under which the reliability of these methods has been demonstrated or can be tested.

Modeling Ordered Choices

Author : William H. Greene
Publisher : Cambridge University Press
ISBN 13 : 1139485954
Total Pages : 383 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Modeling Ordered Choices by : William H. Greene

Download or read book Modeling Ordered Choices written by William H. Greene and published by Cambridge University Press. This book was released on 2010-04-08 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is increasingly common for analysts to seek out the opinions of individuals and organizations using attitudinal scales such as degree of satisfaction or importance attached to an issue. Examples include levels of obesity, seriousness of a health condition, attitudes towards service levels, opinions on products, voting intentions, and the degree of clarity of contracts. Ordered choice models provide a relevant methodology for capturing the sources of influence that explain the choice made amongst a set of ordered alternatives. The methods have evolved to a level of sophistication that can allow for heterogeneity in the threshold parameters, in the explanatory variables (through random parameters), and in the decomposition of the residual variance. This book brings together contributions in ordered choice modeling from a number of disciplines, synthesizing developments over the last fifty years, and suggests useful extensions to account for the wide range of sources of influence on choice.

Handbook of Choice Modelling

Author : Stephane Hess
Publisher : Edward Elgar Publishing
ISBN 13 : 1800375638
Total Pages : 797 pages
Book Rating : 4.8/5 (3 download)

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Book Synopsis Handbook of Choice Modelling by : Stephane Hess

Download or read book Handbook of Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2024-06-05 with total page 797 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thoroughly revised second edition Handbook provides an authoritative and in-depth overview of choice modelling, covering essential topics range from data collection through model specification and estimation to analysis and use of results. It aptly emphasises the broad relevance of choice modelling when applied to a multitude of fields, including but not limited to transport, marketing, health and environmental economics.