Journal of Choice Modelling最新文献_第3页

New misspecification tests for multinomial logit models 多项式逻辑模型的新错标检验

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-12-12 DOI: 10.1016/j.jocm.2024.100531

Dennis Fok, Richard Paap

引用次数: 0

Location choice of residential housing supply: An application of the multiple discrete-continuous extreme value (MDCEV) model 住宅供应地点选择：多元离散-连续极值模型的应用

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-12-12 DOI: 10.1016/j.jocm.2024.100535

Yu Zhang, Eric J. Miller

引用次数: 0

Social finance in emerging markets: Insights into Chinese individual investor preferences with broader implications 新兴市场的社会融资：对中国个人投资者偏好的洞察与更广泛的影响

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-12-05 DOI: 10.1016/j.jocm.2024.100534

Yaoming Liang , Ruiqi Chen , Senbin Zhang , Hongfu Liu , Li Han

{"title":"Social finance in emerging markets: Insights into Chinese individual investor preferences with broader implications","authors":"Yaoming Liang , Ruiqi Chen , Senbin Zhang , Hongfu Liu , Li Han","doi":"10.1016/j.jocm.2024.100534","DOIUrl":"10.1016/j.jocm.2024.100534","url":null,"abstract":"<div><div>Social finance, which integrates social impact with financial returns, is increasingly recognized as a catalyst for sustainable socio-economic development. This study presents an empirical analysis of Chinese individual investors' preferences for social finance products, using a customized choice experiment. The results reveal a strong investor preference for products with high annualized returns, short investment tenures, a focus on the healthcare sector, government backing, and flexible redemption options. By applying latent class analysis, we identify three distinct investor segments: Flexible Savers, Holistic Benefit Assessors, and Economic Return Seekers. The study also examines how demographic characteristics such as age, education, income, risk tolerance, philanthropic involvement, and awareness of social finance are associated with distinct investor segments. The findings suggest that future efforts should focus on designing social finance products that align with the diverse needs of these investor segments, thereby enhancing the appeal and effectiveness of social finance initiatives. Such tailored strategies could play a pivotal role in mobilizing private capital for social finance, maximizing its potential to drive sustainable socio-economic progress in emerging markets.</div></div>","PeriodicalId":46863,"journal":{"name":"Journal of Choice Modelling","volume":"54 ","pages":"Article 100534"},"PeriodicalIF":2.8,"publicationDate":"2024-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143146673","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Latent class choice models with an error structure: Investigating potential unobserved associations between latent segmentation and behavior generation 具有误差结构的潜类选择模型：调查潜在细分与行为产生之间潜在的未观察关联

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-11-26 DOI: 10.1016/j.jocm.2024.100519

Sung Hoo Kim , Patricia L. Mokhtarian

{"title":"Latent class choice models with an error structure: Investigating potential unobserved associations between latent segmentation and behavior generation","authors":"Sung Hoo Kim , Patricia L. Mokhtarian","doi":"10.1016/j.jocm.2024.100519","DOIUrl":"10.1016/j.jocm.2024.100519","url":null,"abstract":"<div><div>Latent class choice modeling has gained great popularity in the transportation and choice modeling communities across the years. However, discussion of principles associated with the specification of the class membership model has barely appeared in the literature. Related to this issue, this study questions whether one of the basic assumptions of latent class choice modeling, that of independence between latent segmentation and the behavior generation process, is tenable. We formulate latent class choice models where the unobserved influences on latent segmentation and behavior generation are correlated, by introducing an error structure reflecting that supposition. The proposed method is applied to two empirical settings. In the first application, the dependent variable is an ordinal variable measuring willingness to share autonomous vehicle rides with strangers. In the second application, the dependent variable is a binary indicator of whether a person has used ridehailing services for social purposes. In both applications, error correlations were statistically significant, indicating that the segmentation and behavior generation processes are jointly determined. Although goodness of fits and parameter estimates per se are similar to those of the standard latent class choice models for these particular applications, allowing an error structure leads to a subtle change in model implications. In particular, our scenario analyses, which present marginal effects, illustrate the value of the proposed model for considering jointness arising from correlated errors, in contrast to standard latent class models. Lastly, we propose several avenues for future research.</div></div>","PeriodicalId":46863,"journal":{"name":"Journal of Choice Modelling","volume":"53 ","pages":"Article 100519"},"PeriodicalIF":2.8,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142722159","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Model choice and framing effects: Do discrete choice modeling decisions affect loss aversion estimates? 模型选择和框架效应：离散选择建模决策会影响损失规避估计值吗？

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-11-25 DOI: 10.1016/j.jocm.2024.100524

Ruth Quainoo , Gregory Howard , Vasundhara Gaur , Corey Lang

引用次数: 0

A consistent moment equations for binary probit models with endogenous variables using instrumental variables 利用工具变量建立具有内生变量的二元概率模型的一致矩方程

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-11-20 DOI: 10.1016/j.jocm.2024.100523

Louis de Grange , Felipe González , Matthieu Marechal , Rodrigo Troncoso

引用次数: 0

Transformation-based flexible error structures for choice modeling 用于选择建模的基于变换的灵活误差结构

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-10-29 DOI: 10.1016/j.jocm.2024.100522

Chandra R. Bhat

引用次数: 0

Modelling household online shopping and home delivery demand using latent class & ordinal generalized extreme value (GEV) models 利用潜类和序数广义极值 (GEV) 模型为家庭网购和送货上门需求建模

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-10-16 DOI: 10.1016/j.jocm.2024.100521

Kaili Wang, Ya Gao, Khandker Nurul Habib

{"title":"Modelling household online shopping and home delivery demand using latent class & ordinal generalized extreme value (GEV) models","authors":"Kaili Wang, Ya Gao, Khandker Nurul Habib","doi":"10.1016/j.jocm.2024.100521","DOIUrl":"10.1016/j.jocm.2024.100521","url":null,"abstract":"<div><div>The surge in e-commerce during the past decade has led to dramatic changes in consumer shopping behaviour. The study applies two Generalized Extreme Value (GEV) family models to investigate households' e-shopping demands. The study proposes a model structure to jointly model ordinal-based choice behaviour with choice-makers' latent class membership. Introducing latent class structure with the OGEV formulation accounts for the relationship between choice-makers heterogeneous preferential groups and their ordinal choice outcomes. Furthermore, the study also applies the Ordered General Extreme Value (OGEV)-Negative Binomial (NB) model, capturing the interplay between consumers' in-store shopping demands and online shopping behaviour. The RUM principle inherited within the OGEV-NB model allows econometric valuation of in-store shopping activity explicitly considering households' e-shopping demands. Both models are empirically estimated using a dataset collected in the Greater Toronto Area (GTA), Canada. The empirical findings and behavioural implications are also discussed.</div></div>","PeriodicalId":46863,"journal":{"name":"Journal of Choice Modelling","volume":"53 ","pages":"Article 100521"},"PeriodicalIF":2.8,"publicationDate":"2024-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142441669","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

An assessment of the current use of hybrid choice models in environmental economics, and considerations for future applications 评估混合选择模型在环境经济学中的应用现状，并对未来的应用进行思考

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-10-16 DOI: 10.1016/j.jocm.2024.100520

Petr Mariel , Alaitz Artabe , Ulf Liebe , Jürgen Meyerhoff

{"title":"An assessment of the current use of hybrid choice models in environmental economics, and considerations for future applications","authors":"Petr Mariel , Alaitz Artabe , Ulf Liebe , Jürgen Meyerhoff","doi":"10.1016/j.jocm.2024.100520","DOIUrl":"10.1016/j.jocm.2024.100520","url":null,"abstract":"<div><div>This study examines the use of hybrid choice models (HCM), also referred to as integrated choice and latent variable (ICLV) models, within environmental valuation studies. The investigation is motivated by the fact that stated preference surveys in this field increasingly incorporate additional data into their modelling, particularly respondents' attitudes towards the environment in a broader context or specifically towards the environmental changes under evaluation. Key findings include the fact that sample sizes are usually too small for such complex models, that many studies use ad hoc scales as indicators of latent variables without first testing the validity and reliability of the scales, and that model results are often not compared with a benchmark model. One particularly notable finding of the simulation study is that excluding a latent variable, such as estimating Random Parameter Logit (RPL) instead of HCM, does not necessarily lead to biased willingness to pay (WTP) estimates. Therefore, if the inclusion of a latent construct is not critical to the study, we suggest opting for more traditional and robust models such as RPL or Latent Class Models (LCM). The perceived benefits of gaining a better understanding of how latent factors influence decisions come with risks associated with defining and estimating an HCM. To improve the quality of research, we provide recommendations for future applications of HCM in environmental economics.</div></div>","PeriodicalId":46863,"journal":{"name":"Journal of Choice Modelling","volume":"53 ","pages":"Article 100520"},"PeriodicalIF":2.8,"publicationDate":"2024-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142441668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Too much, too little? A CBC approach accounting for screening from both sides 太多还是太少？从两方面考虑筛选的 CBC 方法

IF 2.8 3区经济学

Journal of Choice Modelling Pub Date : 2024-09-13 DOI: 10.1016/j.jocm.2024.100508

Lisa Wamhoff, Bernhard Baumgartner

{"title":"Too much, too little? A CBC approach accounting for screening from both sides","authors":"Lisa Wamhoff, Bernhard Baumgartner","doi":"10.1016/j.jocm.2024.100508","DOIUrl":"10.1016/j.jocm.2024.100508","url":null,"abstract":"<div><p>Consumers are often assumed to use a two-stage decision process, screening out products in the first step and choosing among the remaining alternatives in the second step. When analyzing data from discrete choice studies, a compensatory decision strategy is usually presumed. Gilbride and Allenby (2004) introduced a method to model a decision process in a choice-based conjoint analysis combining the compensatory assumption with the two-stage decision process. Respondents first screen out alternatives that do not meet minimum requirements for attributes, followed by a choice between the remaining alternatives using the compensatory rule.</p><p>In this paper, we extend their approach by considering not only screening with a minimum threshold but also with a maximum value for every attribute. We compare this extension to the original method by Gilbride and Allenby (2004) and a single-step compensatory model. We do so on the basis of one simulation scenario as well as three empirical conjoint datasets.</p><p>The results indicate that two-sided screening is applied especially to prices. Both the original and extended models exhibit nearly identical performance. However, they outperform the one-step choice model that ignores screening in terms of fit and predictive validity.</p></div>","PeriodicalId":46863,"journal":{"name":"Journal of Choice Modelling","volume":"53 ","pages":"Article 100508"},"PeriodicalIF":2.8,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S175553452400040X/pdfft?md5=2432f35ff28dedac4b1080f5cb2768a2&pid=1-s2.0-S175553452400040X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142230576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0