Development and application of the mixed ordered response logit model
(i) In transport related market research, the use of strength-of-preference indicators (e.g. ranking and rating) to elicit consumer preferences has declined in favour of more basic choice tasks. The frequently cited reason for this trend is that choosing a preferred alternative from a given choice set is more natural to consumers than ranking or rating choice options. That said, in some circumstances the respondent might welcome the opportunity to indicate their strength of preference to communicate a strongly preferred option or where they are indifferent between options (Burge et al, 2000, Swallow, 2001). Allowing respondents to rank or rate alternatives could therefore enhance the respondent experience and potentially provide a richer dataset for model estimation. There are however technical issues regarding interpersonal comparison of preferences when working with strength-of-preference data - does the statement "Strongly Prefer Option A" mean the same thing to different individuals? In this paper, we extend and apply the ordered response logit model to data from the 1987 UK Value of Time Study (MVA, 1987). This data involves a preference rating exercise for two travel options described in terms of time and cost. To examine the influence of model structure on the value of time we estimate a series or models ranging from a simple binary logit through to a brand new specification referred to a mixed ordered response logit. As expected, the levels of model fit improve as the models become more complex but it is interesting to note particularly significant improvements when random variation of the structural coefficients of the ordered response logit are specified. For the covering abstract see ITRD E135582
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Availability:
- Find a library where document is available. Order URL: http://etcproceedings.org/conference
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Corporate Authors:
Association for European Transport (AET)
1 Vernon Mews, Vernon Street, West Kensington
London W14 0RL, -
Authors:
- WHELAN, G
- TAPLEY, N
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Conference:
- European Transport Conference (ETC)
- Location: Strasbourg , France
- Date: 2006-9-0 to 2006-9-0
- Publication Date: 2006
Language
- English
Media Info
- Pagination: 15p
- Monograph Title: Proceedings of the European Transport Conference (ETC) 2006, held September 2006, Strasbourg, France
Subject/Index Terms
- TRT Terms: Conferences; Data collection; Decision making; Forecasting; Information processing; Mathematical models; Planning; Theory; Transportation
- Uncontrolled Terms: Selection
- ITRD Terms: 8525: Conference; 8623: Data acquisition; 8655: Data processing; 2248: Decision process; 132: Forecast; 6473: Mathematical model; 143: Planning; 9072: Selection; 9078: Theory; 1155: Transport
- Subject Areas: Planning and Forecasting; Transportation (General); I72: Traffic and Transport Planning;
Filing Info
- Accession Number: 01087167
- Record Type: Publication
- Source Agency: Transport Research Laboratory
- ISBN: 1905701012
- Files: ITRD
- Created Date: Jan 29 2008 9:50AM