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Cost-Minimizing Choice Behavior in Transportation Planning [electronic resource] : A Theoretical Framework for Logit Models / by Sven B. Erlander.

By: Erlander, Sven B [author.].
Contributor(s): SpringerLink (Online service).
Material type: materialTypeLabelBookSeries: Advances in Spatial Science, The Regional Science Series: Publisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2010Description: XII, 160p. 6 illus. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783642119118.Subject(s): Economics | Operations research | Econometrics | Regional economics | Economics/Management Science | Regional/Spatial Science | Econometrics | Operations Research, Mathematical ProgrammingDDC classification: 338.9 Online resources: Click here to access online
Contents:
Logit Models for Spatial Interaction: Background -- COST-MINIMIZING BEHAVIOR - CONSTANT LINK COSTS -- Logit Models for Discrete Choice -- Some Particular Logit Models -- Welfare, Benefit and Freedom of Choice -- Graphical Tests of Cost-Minimizing Behavior in Logit Models -- Empirical and Policy Relevance of the New Paradigm -- EQUILIBRIUM -- Equilibrium -- Behavioral Foundations of Spatial Interaction Models.
In: Springer eBooksSummary: This book stems from a desire to understand the underlying assumptions and structure of the choice probability models most often used in transportation planning. The book investigates how far a new way of defining cost minimizing behavior can take us. All commonly used choice probability distributions of the logit type – log linear probability functions – follow from cost minimizing behavior defined in the new way; some new nested models also appear. The new approach provides a deeper understanding of what is 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 independent sample 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. A measure of freedom of choice related to the Shannon measure of how much "choice" is involved is used to obtain a welfare measure which is equal to composite cost.
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Logit Models for Spatial Interaction: Background -- COST-MINIMIZING BEHAVIOR - CONSTANT LINK COSTS -- Logit Models for Discrete Choice -- Some Particular Logit Models -- Welfare, Benefit and Freedom of Choice -- Graphical Tests of Cost-Minimizing Behavior in Logit Models -- Empirical and Policy Relevance of the New Paradigm -- EQUILIBRIUM -- Equilibrium -- Behavioral Foundations of Spatial Interaction Models.

This book stems from a desire to understand the underlying assumptions and structure of the choice probability models most often used in transportation planning. The book investigates how far a new way of defining cost minimizing behavior can take us. All commonly used choice probability distributions of the logit type – log linear probability functions – follow from cost minimizing behavior defined in the new way; some new nested models also appear. The new approach provides a deeper understanding of what is 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 independent sample 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. A measure of freedom of choice related to the Shannon measure of how much "choice" is involved is used to obtain a welfare measure which is equal to composite cost.

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