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    Revealing additional dimensions of preference heterogeneity in a latent class mixed multinomial logit model

    Access Status
    Fulltext not available
    Authors
    Greene, William
    Hensher, D.
    Date
    2013
    Type
    Journal Article
    
    Metadata
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    Citation
    Greene, W. and Hensher, D. 2013. Revealing additional dimensions of preference heterogeneity in a latent class mixed multinomial logit model. Applied Economics. 45 (14): pp. 1897-1902.
    Source Title
    Applied Economics
    DOI
    10.1080/00036846.2011.650325
    ISSN
    0003-6846
    School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/15805
    Collection
    • Curtin Research Publications
    Abstract

    Latent class models offer an alternative perspective to the popular mixed logit form, replacing the continuous distribution with a discrete distribution in which preference heterogeneity is captured by membership of distinct classes of utility description. Within each class, preference homogeneity is usually assumed, although interactions with observed contextual effects are permissible. A natural extension of the fixed parameter latent class model is a random parameter latent class model which allows for another layer of preference heterogeneity within each class. This article sets out the random parameter latent class model and illustrates its applications using a stated choice data set on alternative freight distribution attribute packages pivoted around a recent trip in Australia. © 2012 Copyright Taylor and Francis Group, LLC.

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