Lecture
Mixture models: latent classes
Description
This lecture covers the concept of latent classes in mixture models, focusing on their application in discrete choice modeling using the Swissmetro dataset. The instructor discusses how to identify respondents who consider travel time versus those who do not, and explains the class-specific models and choice model formulations. The lecture also delves into random parameters estimation results and the importance of capturing unobserved heterogeneity through latent classes.
Official source
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