What if my model assumptions are wrong?: The impact of non-standard behaviour on choice model estimation

Publication Type:
Journal Article
Citation:
Journal of Transport Economics and Policy, 2013, 47 (PART2), pp. 245 - 263
Issue Date:
2013-05-01
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Many econometric models exist that may be used to analyse choice data. These, however, are all based on specific assumptions made by the analyst in relation to how individual respondents make their choices. In practice, though, it may be difficult to satisfy these assumptions. Accepting that some respondents may exhibit alternative behaviour, the question becomes what impact 'nonconformist' behaviour may have on estimated models. The present paper presents an in-depth analysis using simulated data to study the impact of such behaviour on model estimates.
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