Lecture
Choice Models: Specification and Heterogeneity
Description
This lecture introduces the specification of the deterministic part in choice models, focusing on qualitative attributes like comfort and reliability. It covers the modeling process, including identifying levels, selecting a base level, and creating utility functions. The lecture also delves into modeling heterogeneity, discussing behavioral assumptions, segmentation based on socio-economic characteristics, and the use of multiple variables for segmentation.
Official source
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