Czine, Péter; Balogh, Péter; Blága, Zsanett; Szabó, … - In: Econometrics : open access journal 12 (2024) 3, pp. 1-16
Heterogeneity in preferences can be addressed through various discrete choice modeling approaches. The random-parameter latent class (RLC) approach offers a desirable alternative for analysts due to its advantageous properties of separating classes with different preferences and capturing the...