Revolutionizing Travel Choices with Advanced Discrete Choice Models!
The article discusses different models used to understand how people make choices about travel. These models are based on the idea that people choose the option that gives them the most utility or satisfaction. The researchers explore alternatives to the traditional model called multinomial logit, which makes certain assumptions about decision-making. They focus on three types of models that relax these assumptions: heteroskedastic models, GEV models, and flexible structural models. These models help us better understand how people make decisions about travel.