Allowing for complementarity and rich substitution patterns in multiple discrete–continuous models

Many consumer choice situations are characterized by the simultaneous demand for multiple alternatives that are imperfect substitutes for one another, along with a continuous quantity dimension for each chosen alternative. To model such multiple discrete–continuous choices, most multiple discrete–continuous models in the literature use an additively-separable utility function, with the assumption that the marginal utility of one good is independent of the consumption of another good. In this paper, the authors develop model formulations for multiple discrete–continuous choices that accommodate rich substitution structures and complementarity effects in the consumption patterns, and demonstrate an application of the model to transportation-related expenditures using data drawn from the 2002 Consumer Expenditure (CEX) Survey.

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Availability:
- Find a library where document is available. Order URL: http://worldcat.org/issn/01912615
Supplemental Notes:
- Abstract reprinted with permission of Elsevier.
Authors:
- Bhat, Chandra R
- 0000-0002-0715-8121
- Castro, Marisol
- Pinjari, Abdul Rawoof
Publication Date: 2015-11

Language

English

Media Info

Media Type: Web
Features: Figures; References; Tables;
Pagination: pp 59-77
Serial:
- Transportation Research Part B: Methodological
- Volume: 81, Part 1
- Publisher: Elsevier
- ISSN: 0191-2615
- Serial URL: http://www.sciencedirect.com/science/journal/01912615

Subject/Index Terms

TRT Terms: Consumer preferences; Consumption; Discrete systems; Expenditures; Mathematical models
Uncontrolled Terms: Complementarity; Multiple discrete continuous extreme value model
Subject Areas: Planning and Forecasting; Transportation (General); I72: Traffic and Transport Planning;

Filing Info

Accession Number: 01581731
Record Type: Publication
Files: TRIS
Created Date: Nov 25 2015 9:14AM