The Choice Modelling Approach to Environmental Valuation

Choice Experiments : an Overview of Concepts and Issues Jordan J. Louviere 2.1 INTRODUCTION 2.1.1 Choice ... the idea of designed choice experiments arose out of limitations encountered in using conjoint analysis techniques to model ...

Author: Jeff Bennett

Publisher: Edward Elgar Publishing

ISBN: 178195660X

Category: Business & Economics

Page: 269

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'. . . a very useful single source for those interested in environmental evaluation using choice models.' - David A. Hensher, Australian Journal of Environmental Management '. . . this book can serve as a firm basis to start understanding what CM is about. . .' - Jesús Barreiro Hurlé, European Review of Agricultural Economics Choice Modelling is a technique that has recently emerged as a means of estimating the demand for environmental goods and the benefits and costs associated with them. The aims of the book are fourfold: * to introduce the technique in the environmental context * to demonstrate its use in a range of case studies * to provide insights into some methodological issues * to explore the prospects for the technique.
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Choice Modelling

The State-of-the-art and the State-of-practice - Proceedings from the Inaugural International Choice Modelling ... Several consumer demand choices related to travel and other decisions are characterized by the choice of multiple ...

Author: Stephane Hess

Publisher: Emerald Group Publishing

ISBN: 9781849507721

Category: Business & Economics

Page: 618

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This book contains a selection of the best theoretical and applied papers from the inaugural International Choice Modelling Conference. The conference was organised by the Institute for Transport Studies at the University of Leeds and was held at Harrogate in Yorkshire in the North of England from 30 March to 1 April 2009. The conference brought together leading researchers and practitioners from across the many different areas in which choice modelling is a key technique for understanding behaviour and evaluating policy. The highlight of the conference was a presentation by Professor Daniel McFadden from the University of California at Berkeley, Nobel Prize laureate in Economics and chief architect of random utility modelling. The conference also included keynote presentations by five other leading choice modellers, namely Professor Moshe Ben-Akiva, Professor Chandra Bhat, Professor Michel Bierlaire, Professor David Hensher, and Professor Riccardo Scarpa. The diversity of the field was reflected in presentations by both academics and practitioners, coming from six continents and various different fields, with a similar mix in non-speaking delegates
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Handbook of Choice Modelling

Hensher, D.A. and J.J. Louviere (1982), 'Design and analysis of simulated choice or allocation experiments in travel choice modelling', Transportation Research Record, 890 (1), 11–17. Hensher, D.A., J.M. Rose and W.H. Greene (2005), ...

Author: Stephane Hess

Publisher: Edward Elgar Publishing

ISBN: 9781781003152

Category: Business & Economics

Page: 720

View: 286

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The Handbook of Choice Modelling, composed of contributions from senior figures in the field, summarizes the essential analytical techniques and discusses the key current research issues. The book opens with Nobel Laureate Daniel McFadden calling for d
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Applied Discrete Choice Modelling

The second stage, embodied in Chapter 3 entails a detailed development of a basic choice model, which will become the point of reference for discussion in Chapters 4 onwards on the adequacy of a range of important behavioural ...

Author: David A. Hensher

Publisher: Routledge

ISBN: 9781351140744

Category: Business & Economics

Page: 480

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Originally published in 1981. Discrete-choice modelling is an area of econometrics where significant advances have been made at the research level. This book presents an overview of these advances, explaining the theory underlying the model, and explores its various applications. It shows how operational choice models can be used, and how they are particularly useful for a better understanding of consumer demand theory. It discusses particular problems connected with the model and its use, and reports on the authors’ own empirical research. This is a comprehensive survey of research developments in discrete choice modelling and its applications.
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Discrete Choice Modelling and Air Travel Demand

All of this highlights the importance of mastering the fundamental concepts in this chapter to avoid errors with incorrectly applying and specifying discrete choice models. Summary of Main Concepts This chapter presented fundamental ...

Author: Laurie A. Garrow

Publisher: Routledge

ISBN: 9781317149712

Category: Technology & Engineering

Page: 306

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In recent years, airline practitioners and academics have started to explore new ways to model airline passenger demand using discrete choice methods. This book provides an introduction to discrete choice models and uses extensive examples to illustrate how these models have been used in the airline industry. These examples span network planning, revenue management, and pricing applications. Numerous examples of fundamental logit modeling concepts are covered in the text, including probability calculations, value of time calculations, elasticity calculations, nested and non-nested likelihood ratio tests, etc. The core chapters of the book are written at a level appropriate for airline practitioners and graduate students with operations research or travel demand modeling backgrounds. Given the majority of discrete choice modeling advancements in transportation evolved from urban travel demand studies, the introduction first orients readers from different backgrounds by highlighting major distinctions between aviation and urban travel demand studies. This is followed by an in-depth treatment of two of the most common discrete choice models, namely the multinomial and nested logit models. More advanced discrete choice models are covered, including mixed logit models and generalized extreme value models that belong to the generalized nested logit class and/or the network generalized extreme value class. An emphasis is placed on highlighting open research questions associated with these models that will be of particular interest to operations research students. Practical modeling issues related to data and estimation software are also addressed, and an extensive modeling exercise focused on the interpretation and application of statistical tests used to guide the selection of a preferred model specification is included; the modeling exercise uses itinerary choice data from a major airline. The text concludes with a discussion of on-going customer modeling research in aviation. Discrete Choice Modelling and Air Travel Demand is enriched by a comprehensive set of technical appendices that will be of particular interest to advanced students of discrete choice modeling theory. The appendices also include detailed proofs of the multinomial and nested logit models and derivations of measures used to represent competition among alternatives, namely correlation, direct-elasticities, and cross-elasticities.
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International Handbook on the Economics of Tourism

In such cases, choice modelling can be superior. Choice modelling approaches are becoming increasingly popular for environmental valuation. Like contingent valuation, choice modelling is a stated preference method.

Author: L. Dwyer

Publisher: Edward Elgar Publishing

ISBN: 9781847201638

Category: Business & Economics

Page: 520

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Tourism economics is a rapidly expanding field of research and interest in the subject has been growing steadily over the past decade. As a field of study it is one of the small band of areas, such as energy and transport economics, that draws on, and applies, developments in general economics. This highly accessible and comprehensive Handbook presents a cutting edge discussion of the state of tourism economics and its likely directions in future research. Leading researchers in the field explore a wide range of topics including: demand and forecasting, supply, transport, taxation and infrastructure, evaluation and application for policy-making. Each chapter includes a discussion of its relevance and importance to the tourism economics literature, an overview of its main contributions and themes, a critical evaluation of existing literature and an outline of issues for further conceptual and applied research. Larry Dwyer and Peter Forsyth have assembled a fascinating Handbook that will be an invaluable and much welcomed reference book for tourism economics scholars and researchers at all levels of academe. General economics scholars will also find much to engage them within the book.
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Behavioural Travel Modelling

choice models. Applications at the national level may sometimes be appropriate and at other times be inappropriate. For example, estimation of inter-city market shares is similar to an urbancorridor application, which is well suited to ...

Author: David A. Hensher

Publisher: Routledge

ISBN: 9781000363135

Category: Transportation

Page: 872

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Originally published in 1979, this study deals on a fully comprehensive level with both passenger and freight travel. The 40 chapters deal with an extensive range of related topics, including equilibrium modelling, theoretical and conceptual developments in demand modelling, goods movement and forecasting and policy. It outlines approaches to understanding travel behaviour, which move beyond the individual choice theory towards a broader consideration of activities.
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Dynamic Travel Choice Models

Dynamic user-optimal mode choice models assume that the total number of trips are fixed, but travelers are allowed to choose their transportation mode according to personal preference. This situation may be exemplified by work trips, ...

Author: Huey-Kuo Chen

Publisher: Springer Science & Business Media

ISBN: 9783642599804

Category: Business & Economics

Page: 320

View: 409

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Contains up-to-date and accessible material, plus all the necessary mathematical background. By verifying the asymmetric property of the dynamic link travel time function, while identifying the inflow, exit flow and number of vehicles on a physical link as three different states over time, the author adopts a variational inequality approach using one time-space link variable. This is then used to formulate problems with deterministic, stochastic and fuzzy traffic information. The book is thus of particular interest to those readers involved in aspects of model formulation, solution algorithm, equivalence analysis and numerical examples.
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Random Regret based Discrete Choice Modeling

In other words: the model consumes no more parameters than conventional (linear-additive) RUM-based DCMs, and it is userfriendly. ... It aims to help the reader (i) understand the RRM-approach to discrete choice modeling ...

Author: Caspar G. Chorus

Publisher: Springer Science & Business Media

ISBN: 9783642291517

Category: Business & Economics

Page: 55

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This tutorial presents a hands-on introduction to a new discrete choice modeling approach based on the behavioral notion of regret-minimization. This so-called Random Regret Minimization-approach (RRM) forms a counterpart of the Random Utility Maximization-approach (RUM) to discrete choice modeling, which has for decades dominated the field of choice modeling and adjacent fields such as transportation, marketing and environmental economics. Being as parsimonious as conventional RUM-models and compatible with popular software packages, the RRM-approach provides an alternative and appealing account of choice behavior. Rather than providing highly technical discussions as usually encountered in scholarly journals, this tutorial aims to allow readers to explore the RRM-approach and its potential and limitations hands-on and based on a detailed discussion of examples. This tutorial is written for students, scholars and practitioners who have a basic background in choice modeling in general and RUM-modeling in particular. It has been taken care of that all concepts and results should be clear to readers that do not have an advanced knowledge of econometrics.
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