Resource title

Integrating latent variables in discrete choice models: how higher-order values and attitudes determine consumer choice

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Resource description

Integrated choice and latent variable (ICLV) models represent a promising new class of models which merge classic choice models with the structural equation approach (SEM) for latent variables. Despite their conceptual appeal, to date applications of ICLV models in marketing are still rare. The present study on travel mode choice clearly demonstrates the value of ICLV models to enhance understanding of choice processes. In addition to the usually studied directly observable variables such as travel time, we show how abstract motivations such as power and hedonisms as well as attitudes such as a desire for flexibility impact on travel mode choice. Further, we can show that it is possible to estimate ICLV models with the widely available structural equation modeling package Mplus. This finding is likely to encourage wider usage of this appealing model class in the marketing field.

Resource author

Dirk Temme, Marcel Paulssen, Till Dannewald

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/25237

Resource license

Adapt according to the presented license agreement and reference the original author.