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Individual Choice Modelling with Discrete Commodities: Theory and Application to the Tasman Bridge Reopening

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  • DAVID A. HENSHER

Abstract

Many choice situations facing individual consumers entail selection of one alternative out of a set of discrete commodities. The essential elements of a theory of individual choice behaviour are outlined for the situation where the alternatives are discrete. An operationally tractable model is proposed within the theoretical framework but with certain assumptions. The model, multinomial logit, is applied to a study of the prediction of mode and route market shares associated with the reopening of the Tasman Bridge. The empirical study is primarily designed to illustrate the potential of this relatively new microeconomic approach to demand modelling.

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  • David A. Hensher, 1979. "Individual Choice Modelling with Discrete Commodities: Theory and Application to the Tasman Bridge Reopening," The Economic Record, The Economic Society of Australia, vol. 55(3), pages 243-260, September.
    • Handle: RePEc:bla:ecorec:v:55:y:1979:i:3:p:243-260
    DOI: 10.1111/j.1475-4932.1979.tb02227.x
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    1. James Tobin, 1955. "The Application of Multivariate Probit Analysis to Economic Survey Data," Cowles Foundation Discussion Papers 1, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:

    1. Haghani, Milad & Bliemer, Michiel C.J. & Hensher, David A., 2021. "The landscape of econometric discrete choice modelling research," Journal of choice modelling, Elsevier, vol. 40(C).

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