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Title:Integrating latent variables in discrete choice models: how higher-order values and attitudes determine consumer choice PDF Logo
Authors:Temme, Dirk
Paulssen, Marcel
Dannewald, Till
Issue Date:2007
Series/Report no.:SFB 649 discussion paper 2007,065
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, to date applications of ICLV models in marketing are still rare. The present study on travel mode choice clearly demonstrates the value of ICLV models to enhance 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 hedonisms as well as attitudes such as a desire for flexibility impact on travel mode choice. Further, we can show that it is possible to estimate ICLV models with the widely available structural equation modeling package Mplus. This finding is likely to encourage wider usage of this appealing model class in the marketing field.
Subjects:Hybrid choice models
Mode choice
Values
Value-attitude hierarchy
Mplus
JEL:C25
C51
C87
M31
R41
Document Type:Working Paper
Appears in Collections:SFB 649 Discussion Papers, HU Berlin

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