Artikel
Incorporating Latent Variables into Discrete Choice Models - A Simultaneous Estimation Approach Using SEM Software
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.
- Language
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Englisch
- Bibliographic citation
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Journal: BuR - Business Research ; ISSN: 1866-8658 ; Volume: 1 ; Year: 2008 ; Issue: 2 ; Pages: 220-237 ; Göttingen: VHB - Verband der Hochschullehrer für Betriebswirtschaft, German Academic Association of Business Research
- Classification
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Management
- Subject
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hybrid choice models
marketing
mode choice
mplus
value-attitude hierarchy
Diskrete Entscheidung
Strukturgleichungsmodell
Marketingtheorie
Operations Research
- Event
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Geistige Schöpfung
- (who)
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Temme, Dirk
Paulssen, Marcel
Dannewald, Till
- Event
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Veröffentlichung
- (who)
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VHB - Verband der Hochschullehrer für Betriebswirtschaft, German Academic Association of Business Research
- (where)
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Göttingen
- (when)
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2008
- DOI
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doi:10.1007/BF03343535
- Handle
- URN
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urn:nbn:de:0009-20-16598
- Last update
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10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Temme, Dirk
- Paulssen, Marcel
- Dannewald, Till
- VHB - Verband der Hochschullehrer für Betriebswirtschaft, German Academic Association of Business Research
Time of origin
- 2008
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