Analysis of Discrete Choice Models: A Welfare-Based Framework

Choice Based Conjoint Analysis: Discrete Choice Models vs. Direct Regression

Conjoint analysis is family of techniques that originated in psychology and later became popular in market research. The main objective of conjoint analysis is to measure an individual’s or a population’s preferences on a class options that can be described by parameters and their levels. We consider preference data obtained in choice based conjoint analysis studies, where one observes test per...

Random Utility-Based Discrete Choice Models for Travel Demand Analysis

Mistakes in Choice - Based Welfare Analysis

Economics has always been concerned not only with describing or predicting economic behavior but also with understanding economic well-being. The traditional, official way economists (claimed to) have assessed well-being is from " revealed preference''—observing what people choose under the maintained hypothesis of 100 percent rationality. For instance, when we teach millions of students each y...

Discrete Brand Choice Models: Analysis and Applications

Discrete choice models based on random walks

We show that a large class of discrete choice models which contain the Markov chain model introduced by Blanchet, Gallego, and Goyal (2013) belong to the class of discrete choice models based on random utility. © 2016 Elsevier B.V. All rights reserved.