scholarly journals The Generalized Stochastic Preference Choice Model

2018 ◽  
Author(s):  
Gerardo Berbeglia
Keyword(s):  
Choice Model ◽  
Stochastic Preference

Are More Profiles Better Than Fewer?: Searching for Parsimony and Relevance in Stated Choice Experiments

2000 ◽  
Vol 1719 (1) ◽  
pp. 165-174 ◽  
Author(s):  
Peter R. Stopher ◽  
David A. Hensher
Keyword(s):  
New Zealand ◽  
Degrees Of Freedom ◽  
Choice Model ◽  
Fractional Factorial ◽  
Sources Of Information ◽  
Stated Choice ◽  
Complex Design ◽  
Data Collection Instrument ◽  
Main Effects ◽  
Better Than

Transportation planners increasingly include a stated choice (SC) experiment as part of the armory of empirical sources of information on how individuals respond to current and potential travel contexts. The accumulated experience with SC data has been heavily conditioned on analyst prejudices about the acceptable complexity of the data collection instrument, especially the number of profiles (or treatments) given to each sampled individual (and the number of attributes and alternatives to be processed). It is not uncommon for transport demand modelers to impose stringent limitations on the complexity of an SC experiment. A review of the marketing and transport literature suggests that little is known about the basis for rejecting complex designs or accepting simple designs. Although more complex designs provide the analyst with increasing degrees of freedom in the estimation of models, facilitating nonlinearity in main effects and independent two-way interactions, it is not clear what the overall behavioral gains are in increasing the number of treatments. A complex design is developed as the basis for a stated choice study, producing a fractional factorial of 32 rows. The fraction is then truncated by administering 4, 8, 16, 24, and 32 profiles to a sample of 166 individuals (producing 1, 016 treatments) in Australia and New Zealand faced with the decision to fly (or not to fly) between Australia and New Zealand by either Qantas or Ansett under alternative fare regimes. Statistical comparisons of elasticities (an appropriate behavioral basis for comparisons) suggest that the empirical gains within the context of a linear specification of the utility expression associated with each alternative in a discrete choice model may be quite marginal.

An Economic Choice Model for Lexicographic Preferences

2015 ◽  
Author(s):  
Hyung Soo Lim ◽  
Duk Bin Jun ◽  
Dong Soo Kim ◽  
Yun Shin Lee
Keyword(s):  
Choice Model ◽  
Lexicographic Preferences ◽  
Economic Choice

An Empirical Study of Store Choice Model: An Endogenous Construct

2014 ◽  
Vol 4 (2) ◽  
Author(s):  
Prof. Amit Shrivastava ◽  
Prof. Sushil Kumar Pare ◽  
Prof (Dr) Saumya Singh
Keyword(s):  
Empirical Research ◽  
Consumer Choice ◽  
Choice Model ◽  
Social Science Research ◽  
Product Category ◽  
Science Research ◽  
Consumer Decision Making ◽  
Store Choice ◽  
Store Attributes ◽  
Patronage Intention

Inadequate is the empirical research on store choice model in view of retail store attributes with endogenous construct of store patronage intention of consumer. Conventional wisdom and social science research-based insights for underpinning the design of store environment established elements such as music, scent, crowding and physical attractiveness of the store. Earlier empirical findings lack on key anterior, which include consumers’ time and effort as well as the psychological costs such as convenient, economical, risk mitigated shopping experience. The premise on which overall effects in our model rests, is that store attributes influence consumers' cognitive process and develop perceptual framework of store choice criteria — namely, convenience, reputation of outlet, branded merchandise (mediated through perceived quality). This research presents a formal test of the linear regression equation model in the context of store choice behaviour, involving one product category. The present paper explores these attributes and their affect on consumer from different socio-economic classes, willingness to purchase and to patronize if these factors are modified. Questioning the earlier conclusions that all attributes aforementioned are equally important in consumer decision making, the current results indicate that consumers place differential significance on each attribute, and the level of significance placed on each attribute varies with different socio economic class. These findings are significantly important to the retail industry as they identify the critical attributes responsible for building consumer choice and patronage among different socio economy classes. This model also paves way for another premise of empirical research, that shoppers might develop category-wise store choice or patronage behaviour model.

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