Is It Sufficient to Select the Optimal Class Number Based Only on Information Criteria in Fixed- and Random-Parameter Latent Class Discrete Choice Modeling Approaches?
Heterogeneity in preferences can be addressed through various discrete choice modeling approaches. The random-parameter latent class (RLC) approach offers a desirable alternative for analysts due to its advantageous properties of separating classes with different preferences and capturing the remain...
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| Main Authors: | , , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2024-08-01
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| Series: | Econometrics |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2225-1146/12/3/22 |
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