On allowing a general form for unobserved heterogeneity in the multiple discrete–continuous probit model: Formulation and application to tourism travel |
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| Institution: | 1. The University of Texas at Austin, Department of Civil, Architectural and Environmental Engineering, 301 E. Dean Keeton St. Stop C1761, Austin, TX 78712, United States\n;2. King Abdulaziz University, Jeddah 21589, Saudi Arabia;3. The University of Texas at Austin, College of Natural Sciences and Liberal Arts, United States\n;1. The University of Texas at Austin, Department of Civil, Architectural and Environmental Engineering, 301 E. Dean Keeton St. Stop C1761, Austin, TX 78712, USA;2. King Abdulaziz University, Jeddah 21589, Saudi Arabia;3. University of South Florida, Department of Civil and Environmental Engineering, 4202 E Fowler Ave, ENB 118, Tampa, FL 33620, USA;4. University of South Australia, Institute for Choice, 140 Arthur St, Level 13, North Sydney, NSW 2060, Australia;5. King Abdulaziz University, Department of Civil Engineering, P.O. Box 80204, Jeddah 21589, Saudi Arabia |
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| Abstract: | This paper proposes a new econometric formulation and an associated estimation method for a finite discrete mixture of normals (FDMN) version of the multiple discrete–continuous probit (MDCP) model. To our knowledge, this is the first such formulation and application of an MDCP model in the econometric literature. Using the New Zealand Domestic Travel Survey data set, the model is applied to analyze individual-level decisions regarding recreational destination locations and the number of trips to each destination. The results provide insights into the demographic and other factors that influence individuals’ preferences for different destinations, and show that the FDMN MDCP model is able to identify different segments of the sample, each one of them with different effects of the exogenous variables on destination choice. |
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