The Centre for Transport Studies is pleased to welcome
Dr. Baibing Li (Loughborough University)
to lead a seminar entitled
The Multinomial Logit Model Revisited:
A Semiparametric Approach in Discrete Choice Analysis
to be held
Wednesday 2nd February at 16:00
Please join us for presentation and discussion at
Room 610, Skempton Building, Imperial College London
(Maps and travel directions: www.imperial.ac.uk/cts/html/Miscellaneous/travelDirections.asp<http://www.imperial.ac.uk/cts/html/Miscellaneous/travelDirections.asp>)
Abstract
The multinomial logit model is widely used in transport research. It has long been known that the Gumbel distribution forms the basis of the multinomial logit model. Although the Gumbel distribution is a good approximation in some applications, it is chosen mainly for mathematical convenience. This can be restrictive in many scenarios in practice. We show in this presentation that the assumption of the Gumbel distribution can be substantially relaxed to include a large class of distributions that is stable with respect to the minimum operation. The distributions in the class allow heteroscedastic variances. We then seek a transformation that stabilizes the heteroscedastic variances. We show that this leads to a semiparametric choice model which links travel-related attributes to the choice probabilities via a sensitivity function. This sensitivity function reflects the degree of travellers' sensitivity to the changes in the combined travel cost. Empirical studies were conducted using the developed method.
About the Speaker
Baibing Li is a Reader in Business Statistics & Management Science, School of Business and Economics, Loughborough University. He has previously been a Lecturer in Statistics in School of Mathematics and Statistics at Newcastle University.
About the CTS Seminar Series
The CTS seminar series aims to facilitate discussion on current research topics in the transport field. Seminars are held jointly with our colleagues in the Centre for Transport Studies at University College London. They are usually held on Wednesday afternoons at Imperial College London or University College London. Seminars are free of charge and open to all interested parties. Booking is not required.
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CTS home: www.imperial.ac.uk/cts<http://www.imperial.ac.uk/cts>
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