This paper presents an application of advanced econometric techniques to railway passenger choices in the context of revenue management. Three modeling approaches; multinomial logit, latent class, and mixed logit models are applied to ticket purchase timing decisions and to three market...

In this paper, discrete choice methods in the form of multinomial logit and latent class models are proposed to explain ticket purchase timing of passenger railway. The choice model and demand functions are incorporated into a revenue optimization problem which jointly considers pricing and seat...

Over the last few decades there has been a great increase in the number of cars in the United States. Given the importance of vehicle ownership on both transport and land-use planning and its relationship with energy consumption, the environment and health, the growth in the number of vehicles...

Maximum simulated likelihood (MSL) procedure is generally adopted in discrete choice analysis to solve complex models without closed mathematical formulation. This procedure differs from the maximum likelihood simply because simulated probabilities are inserted into the Log-Likelihood (LL)...

Researchers and analysts are increasingly using mixed logit models for estimating responses to forecast demand and to determine the factors that affect individual choices. However the numerical cost associated to their evaluation can be prohibitive, the inherent probability choices being...

Understanding variability in individual behaviour is crucial for the comprehension of travel patterns and for the development and evaluation of planning policies. But, with only one notable exception, there are no studies on the intrinsic variability in the individual preferences for mode...