Choice with Multiple Alternatives: Specification of the Deterministic Part

This lecture introduces choice models focusing on quantitative attributes such as in-vehicle time, out-of-pocket costs, and walking time. It covers the impact of unitless attributes on coefficients, generic vs. alternative-specific modeling, and socio-economic characteristics like annual income and age. The instructor discusses modeling heterogeneity, including behavioral assumptions, interactions, and creativity in functional forms. The lecture also explores alternative-specific constants and their variations across individuals.