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Discrete choice models’ ρ2: A reintroduction to an old friend

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  • Mokhtarian, Patricia L.

Abstract

We first review the intuition behind ρ2, and its conceptual interpretation. We then comment on the choice of benchmark (typically either the equally-likely, EL, or the market-share, MS, model), together with discussion of what is considered a “good” value. After a brief mention of the adjusted ρ2 and of statistical distributions associated with ρ2, we close with a description of its computation under three special circumstances: repeated observations, unequal choice sets, and deterministically-segmented models.

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  • Mokhtarian, Patricia L., 2016. "Discrete choice models’ ρ2: A reintroduction to an old friend," Journal of choice modelling, Elsevier, vol. 21(C), pages 60-65.
    • Handle: RePEc:eee:eejocm:v:21:y:2016:i:c:p:60-65
    DOI: 10.1016/j.jocm.2016.02.001
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    Cited by:

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    2. Delphine Pernot, 2020. "Internet shopping for Everyday Consumer Goods: An examination of the purchasing and travel practices of click and pickup outlet customers," Post-Print hal-02512133, HAL.
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    4. Alex Burnap & John Hauser, 2018. "Predicting "Design Gaps" in the Market: Deep Consumer Choice Models under Probabilistic Design Constraints," Papers 1812.11067, arXiv.org.
    5. Thigpen, Calvin, 2017. "The Reciprocal Relationship between Children and Young Adults' Travel Behavior and Their Travel Attitudes, Skills, and Norms," Institute of Transportation Studies, Working Paper Series qt383679dd, Institute of Transportation Studies, UC Davis.
    6. Xing, Yan & Pike, Susan & Pourrahmani, Elham & Handy, Susan & Wang, Yunshi, 2022. "Exploring the Consumer Market of Microtransit Services in the Sacramento Area, California," Institute of Transportation Studies, Working Paper Series qt55g4800k, Institute of Transportation Studies, UC Davis.
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    8. John Buckell & David A Hensher & Stephane Hess, 2021. "Kicking the habit is hard: A hybrid choice model investigation into the role of addiction in smoking behavior," Health Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 3-19, January.
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    10. Georges A. Tanguay & Ugo Lachapelle, 2019. "Potential Impacts of Telecommuting on Transportation Behaviours, Health and Hours Worked in Québec," CIRANO Project Reports 2019rp-07, CIRANO.
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    More about this item

    Keywords

    McFadden's R2; Pseudo-R2; Goodness-of-fit; Unequal choice sets; Segmentation;
    All these keywords.

    JEL classification:

    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis

    Statistics

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