Hierarchical Bayesian Method in the Study of Individual Level Behavior- In the Context of Discrete Choice Modeling with Revealed and Stated Preference Data

Dong Xiaojing

ISBN 10: 3836423537 / ISBN 13: 9783836423533

Published by VDM Verlag Dr. Mueller Aktiengesellschaft & Co. KG, 2007

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PRINT ON DEMAND pp. 80.

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Bibliographic Details

• Title: Hierarchical Bayesian Method in the Study of Individual Level Behavior- In the Context of Discrete Choice Modeling with Revealed and Stated Preference Data
• Publisher: VDM Verlag Dr. Mueller Aktiengesellschaft & Co. KG
• Publication Date: 2007
• Language: English
• ISBN 10: 3836423537
• ISBN 13: 9783836423533
• Binding: Soft cover
• Condition: New

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Synopsis

A major breakthrough in travel demand modeling in the early 1970's was modeling based on disaggregate (individual) level data (McFadden 2001). Although the disaggregate model focuses on individual level behavior, the estimated model parameters are fixed across individuals. To incorporate unobserved taste variations across individuals, recent developments allow for the parameters to vary across individuals, such as the Mixed Logit model, where the parameters are assumed to follow a distribution. The mixed logit model recognizes the differences among individuals, but it does not distinguish individuals who respond differently to travel service changes. This study focuses on the application of the Hierarchical Bayesian method to obtain individual level inferences. We demonstrate the advantage of this method by obtaining a more reasonable distribution of value of travel time relative to the distribution obtained from the mixed logit model. In addition, the HB method helps us to combine information from both revealed and stated preference data, where the revealed preference data is limited to properties of only the chosen alternatives.

About the Author

is an Assistant Professor of Marketing at theLeavey School of Business, Santa Clara University.She got her PhD from Northwestern University(Evanston, IL) and MS degree atMIT (Cambridge, MA).