Cost-Minimizing Choice Behavior in Transportation Planning: A Theoretical Framework fo Logit Models
2010 (English)Book (Other academic)
This book stems from a desire to understand the underlying assumptions and structureof the choice probability models most often used in transportation planning. The bookinvestigates how far a new way of defining cost minimizing behavior can take us. Allcommonly used choice probability distributions of the logit type – log linear probabilityfunctions – follow from cost minimizing behavior defined in the new way; some newnested models also appear. The new approach provides a deeper understanding of whatis at work in the models. The new way of defining cost minimizing behavior is as follows:cost minimizing behavior pertains if the likelihood (probability) of any independentsample of observations is a decreasing function of the average cost of the sample.Extreme value distributed random variables are not used in the derivation of models. Ameasure of freedom of choice related to the Shannon measure of how much "choice" isinvolved is used to obtain a welfare measure which is equal to composite cost.... more on http://springer.com/978-3-642-11910-1
Place, publisher, year, edition, pages
Heidelberg: Springer , 2010. , 153 p.
, Advances in Spatial Science, ISSN 1430-9602
Computational Mathematics Mathematics Economics Mathematics
IdentifiersURN: urn:nbn:se:liu:diva-63769DOI: 10.1007/978-3-642-11911-8ISBN: 978-3-642-11910-1ISBN: 978-3-642-11911-8OAI: oai:DiVA.org:liu-63769DiVA: diva2:382894