UCL Discovery
UCL home » Library Services » Electronic resources » UCL Discovery

Discrete choice modelling incorporating attribute thresholds of perception

de Dios Ortúzar, J.; Cantillo, V.; Heydecker, B.; (2004) Discrete choice modelling incorporating attribute thresholds of perception. In: Proceedings of the European Transport Conference 2004. Association for European Transport Green open access

[img]
Preview
PDF
2004_34.pdf

Download (224kB)

Abstract

In this paper we formulate a discrete choice model that incorporates thresholds in the perception of attribute changes. The model considers multiple options and allows changes in several attributes. We postulate that if thresholds exist they could be random, differ between individuals, and even be a function of socio-economic characteristics and choice conditions. Our formulation allows estimation of the parameters of the threshold probability distribution starting from information about choices. The model is applied to synthetic data and also to real data from a stated preference survey. We found that where perception thresholds exist in the population, the use of models without them leads to errors in estimation and prediction. Clearly, the effect is more relevant when the typical size of change in the attribute value is comparable with the threshold, and when the contribution of this attribute in the utility function is substantial. Finally, we discuss the implications of the threshold model for estimation of the benefits of transport investments, and show that where thresholds exist, models that do not represent them can overestimate benefits substantially.

Type: Proceedings paper
Title: Discrete choice modelling incorporating attribute thresholds of perception
Open access status: An open access version is available from UCL Discovery
Language: English
UCL classification: UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Civil, Environ and Geomatic Eng
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Civil, Environ and Geomatic Eng
URI: https://discovery.ucl.ac.uk/id/eprint/1341
Downloads since deposit
384Downloads
Download activity - last month
Download activity - last 12 months
Downloads by country - last 12 months

Archive Staff Only

View Item View Item