Pricing and Hierarchical Logit-Based Mode Choice Models in a Multimodal Corridor with Trip-Chain Costs

Pricing and mode choice based on nested logit model with trip-chain costs

Commuters can complete their “home-work-home” trips by three options: subway-only mode, auto-only mode, and park-and-ride mode on a bottleneck-constrained corridor. The purpose of this paper is to enhance the insights into pricing mechanism for subway and parking and corresponding mode choice behavior on the corridor with elastic demand. A nested logit-based stochastic user equilibrium model is...

Dynamic Pricing under a Logit Choice Model

We consider a stylized dynamic pricing model in which a monopolist prices a product to a sequence of customers, who independently make purchasing decisions based on the price offered according to a logit choice model. The parameters of the logit model are unknown to the seller, whose objective is to determine a pricing policy that minimizes the regret, which is the expected difference between t...

Pricing Multiple Products with the Multinomial Logit and Nested Logit Models: Concavity and Implications

Probit and nested logit models based on fuzzy measure

Inspired by the interactive discrete choice logit models [Aggarwal, 2019], this paper presents the advanced families of discrete choice models, such as nested logit, mixed logit, and probit models to consider the interaction among the attributes. Besides the DM's attitudinal character is also taken into consideration in the computation of choice probabilities. The proposed choice models make us...

Accommodating supply chain structure in models of freight mode choice

Modern logistics systems involves complicated interactions amongst many different decision agents within a complex supply chain structures. Accordingly, in contrast to passenger transport, choice decisions in freight transport are typically not concentrated in a single agent, but are co-operatively and sometimes competitively made with different degrees of relationships by multiple individuals ...