TY - JOUR
T1 - A hybrid choice model with a nonlinear utility function and bounded distribution for latent variables
T2 - application to purchase intention decisions of electric cars
AU - Kim, J.
AU - Rasouli, S.
AU - Timmermans, H.J.P.
PY - 2016/6/21
Y1 - 2016/6/21
N2 - The hybrid choice model (HCM) provides a powerful framework to account for heterogeneity across decision-makers in terms of different underlying latent attitudes. Typically, effects of the latent attitudes have been represented assuming linear utility functions. In contributing to the further elaboration of HCMs, this study suggests an extended HCM framework allowing for nonlinear utility functions of choice alternatives including not only observed but also latent variables. Box–Cox transformations are used to represent the nonlinear utility function. Johnson’s SB distribution is suggested to represent the random term of the latent variables, satisfying the constraint of the Box–Cox transformation. An empirical study using stated choice data about the intention to purchase electric cars is conducted. The empirical results show that the proposed framework can capture nonlinear effects of underlying variables including latent attitudes, thereby enhancing the explanatory power of the choice model.
AB - The hybrid choice model (HCM) provides a powerful framework to account for heterogeneity across decision-makers in terms of different underlying latent attitudes. Typically, effects of the latent attitudes have been represented assuming linear utility functions. In contributing to the further elaboration of HCMs, this study suggests an extended HCM framework allowing for nonlinear utility functions of choice alternatives including not only observed but also latent variables. Box–Cox transformations are used to represent the nonlinear utility function. Johnson’s SB distribution is suggested to represent the random term of the latent variables, satisfying the constraint of the Box–Cox transformation. An empirical study using stated choice data about the intention to purchase electric cars is conducted. The empirical results show that the proposed framework can capture nonlinear effects of underlying variables including latent attitudes, thereby enhancing the explanatory power of the choice model.
KW - bounded distribution
KW - Box–Cox transformation
KW - electric car
KW - Hybrid choice model
KW - latent attitudes
KW - nonlinear utility function
UR - http://www.scopus.com/inward/record.url?scp=84975263519&partnerID=8YFLogxK
U2 - 10.1080/23249935.2016.1193567
DO - 10.1080/23249935.2016.1193567
M3 - Article
AN - SCOPUS:84975263519
VL - 12
SP - 909
EP - 932
JO - Transportmetrica A: Transport Science
JF - Transportmetrica A: Transport Science
SN - 2324-9935
IS - 10
ER -