Understanding the distribution and the determinants of search criteria thresholds helps in representing choice set formation and choice behavior. The development and estimation are presented of a two-stage model that jointly represents search criteria thresholds, within a noncompensatory choice set formation stage, and choice behavior, within a compensatory stage. Data were collected by using a custom-designed web-based choice experiment that seamlessly tracked the entire choice process by recording choice protocols. The model is applied to off-campus rental apartment choice by students as an example of a complex choice situation. The model combines three correlated ordered response models for the search criteria with a multinomial logit model for the choice among a realistically large realm of 200 alternatives. Estimates demonstrate that ( a) the thresholds are correlated and their selection can be explained by individual characteristics, preferences, and perceptions and ( b) the suggested methodology alleviates the computational complexity embedded in two-stage models by reducing the number of theoretically possible choice sets to the actually chosen ones.
Two-Stage Model for Jointly Revealing Determinants of Noncompensatory Conjunctive Choice Set Formation and Compensatory Choice
Transportation Research Record
Transportation Research Record: Journal of the Transportation Research Board ; 2134 , 1 ; 153-163
2009-01-01
Article (Journal)
Electronic Resource
English
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