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Temme D, Paulssen M, Dannewald T (2008). Incorporating Latent Variables into Discrete Choice Models - A Simultaneous Estimation Approach Using SEM Software. BuR - Business Research, Vol. 1, Iss. 2, pp. 220-237, URN: urn:nbn:de:0009-20-16598
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%0 Journal Article %T Incorporating Latent Variables into Discrete Choice Models - A Simultaneous Estimation Approach Using SEM Software %A Temme, Dirk %A Paulssen, Marcel %A Dannewald, Till %J BuR - Business Research %D 2008 %V 1 %N 2 %@ 1866-8658 %F temme2008 %X Integrated choice and latent variable (ICLV) models represent a promising new class of models which merge classic choice models with the structural equation approach (SEM) for latent variables. Despite their conceptual appeal, applications of ICLV models in marketing remain rare. We extend previous ICLVapplications by first estimating a multinomial choice model and, second, by estimating hierarchical relations between latent variables. An empirical study on travel mode choice clearly demonstrates the value of ICLV models to enhance the understanding of choice processes. In addition to the usually studied directly observable variables such as travel time, we show how abstract motivations such as power and hedonism as well as attitudes such as a desire for flexibility impact on travel mode choice. Furthermore, we show that it is possible to estimate such a complex ICLV model with the widely available structural equation modeling package Mplus. This finding is likely to encourage more widespread application of this appealing model class in the marketing field. %L 330 %K hybrid choice models %K marketing %K mode choice %K mplus %K value-attitude hierarchy %U http://nbn-resolving.de/urn:nbn:de:0009-20-16598 %P 220-237
Bibtex
@Article{temme2008,
author = "Temme, Dirk
and Paulssen, Marcel
and Dannewald, Till",
title = "Incorporating Latent Variables into Discrete Choice Models - A Simultaneous Estimation Approach Using SEM Software",
journal = "BuR - Business Research",
year = "2008",
volume = "1",
number = "2",
pages = "220--237",
keywords = "hybrid choice models",
keywords = "marketing",
keywords = "mode choice",
keywords = "mplus",
keywords = "value-attitude hierarchy",
abstract = "Integrated choice and latent variable (ICLV) models represent a promising new class of models which merge classic choice models with the structural equation approach (SEM) for latent variables. Despite their conceptual appeal, applications of ICLV models in marketing remain rare. We extend previous ICLVapplications by first estimating a multinomial choice model and, second, by estimating hierarchical relations between latent variables. An empirical study on travel mode choice clearly demonstrates the value of ICLV models to enhance the understanding of choice processes. In addition to the usually studied directly observable variables such as travel time, we show how abstract motivations such as power and hedonism as well as attitudes such as a desire for flexibility impact on travel mode choice. Furthermore, we show that it is possible to estimate such a complex ICLV model with the widely available structural equation modeling package Mplus. This finding is likely to encourage more widespread application of this appealing model class in the marketing field.",
issn = "1866-8658",
url = "http://nbn-resolving.de/urn:nbn:de:0009-20-16598"
}
RIS
TY - JOUR AU - Temme, Dirk AU - Paulssen, Marcel AU - Dannewald, Till PY - 2008// TI - Incorporating Latent Variables into Discrete Choice Models - A Simultaneous Estimation Approach Using SEM Software JO - BuR - Business Research SP - 220 EP - 237 VL - 1 IS - 2 KW - hybrid choice models KW - marketing KW - mode choice KW - mplus KW - value-attitude hierarchy N2 - Integrated choice and latent variable (ICLV) models represent a promising new class of models which merge classic choice models with the structural equation approach (SEM) for latent variables. Despite their conceptual appeal, applications of ICLV models in marketing remain rare. We extend previous ICLVapplications by first estimating a multinomial choice model and, second, by estimating hierarchical relations between latent variables. An empirical study on travel mode choice clearly demonstrates the value of ICLV models to enhance the understanding of choice processes. In addition to the usually studied directly observable variables such as travel time, we show how abstract motivations such as power and hedonism as well as attitudes such as a desire for flexibility impact on travel mode choice. Furthermore, we show that it is possible to estimate such a complex ICLV model with the widely available structural equation modeling package Mplus. This finding is likely to encourage more widespread application of this appealing model class in the marketing field. SN - 1866-8658 UR - http://nbn-resolving.de/urn:nbn:de:0009-20-16598 ID - temme2008 ER -
Wordbib
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ISI
PT Journal AU Temme, D Paulssen, M Dannewald, T TI Incorporating Latent Variables into Discrete Choice Models - A Simultaneous Estimation Approach Using SEM Software SO BuR - Business Research PY 2008 BP 220 EP 237 VL 1 IS 2 DE hybrid choice models; marketing; mode choice; mplus; value-attitude hierarchy AB Integrated choice and latent variable (ICLV) models represent a promising new class of models which merge classic choice models with the structural equation approach (SEM) for latent variables. Despite their conceptual appeal, applications of ICLV models in marketing remain rare. We extend previous ICLVapplications by first estimating a multinomial choice model and, second, by estimating hierarchical relations between latent variables. An empirical study on travel mode choice clearly demonstrates the value of ICLV models to enhance the understanding of choice processes. In addition to the usually studied directly observable variables such as travel time, we show how abstract motivations such as power and hedonism as well as attitudes such as a desire for flexibility impact on travel mode choice. Furthermore, we show that it is possible to estimate such a complex ICLV model with the widely available structural equation modeling package Mplus. This finding is likely to encourage more widespread application of this appealing model class in the marketing field. ER
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Full Metadata
| Bibliographic Citation | BuR - Business Research, Vol. 1, Iss. 2, pp. 220-237 |
|---|---|
| Title | Incorporating Latent Variables into Discrete Choice Models - A Simultaneous Estimation Approach Using SEM Software (eng) |
| Author | Dirk Temme, Marcel Paulssen, Till Dannewald |
| Language | eng |
| Abstract | Integrated choice and latent variable (ICLV) models represent a promising new class of models which merge classic choice models with the structural equation approach (SEM) for latent variables. Despite their conceptual appeal, applications of ICLV models in marketing remain rare. We extend previous ICLV applications by first estimating a multinomial choice model and, second, by estimating hierarchical relations between latent variables. An empirical study on travel mode choice clearly demonstrates the value of ICLV models to enhance the understanding of choice processes. In addition to the usually studied directly observable variables such as travel time, we show how abstract motivations such as power and hedonism as well as attitudes such as a desire for flexibility impact on travel mode choice. Furthermore, we show that it is possible to estimate such a complex ICLV model with the widely available structural equation modeling package Mplus. This finding is likely to encourage more widespread application of this appealing model class in the marketing field. |
| Subject | hybrid choice models, marketing, mode choice, mplus, value-attitude hierarchy |
| DDC | 330 |
| Rights | authorcontract |
| URN: | urn:nbn:de:0009-20-16598 |
