Lecture

Modeling Choice Behavior

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Description

This lecture discusses the importance of modeling choice behavior in various fields such as transportation, marketing, health, and energy. It covers the concept of demand, the applications of choice modeling, and the development of valid demand models. The instructor emphasizes the need for theories, methods, and models that are quantitative, operational, and focused on individual behavior. The lecture also highlights the history of choice modeling, mentioning Professor Daniel McFadden, the Nobel Prize winner in 2000, who is known as the father of choice modeling.

In MOOC

Introduction to Discrete Choice Models

Human behavior is complex, and unpredictable. Or is it? Predicting the behavior using mathematical models is the topic of this course. More specifically, we focus on choice modeling, in order to obtain disaggregate demand models. Focusing on the logit model, the course covers in details the specification of the model, the estimation of its parameters, the validation and the application. Exercises using the software Biogeme are also proposed. Concrete case studies with real data sets are provided.

Official source

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