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on Discrete Choice Models |
| By: | Han Li; Rianne Appel-Meulenbroek; Theo Arentze; Hoes Pieter-Jan |
| Abstract: | Buildings account for 30% of global energy consumption. Although applying energy efficiency programs or energy saving campaigns has helped to conserve energy use in offices, the consumption figures are still increasing. It might be that the scarcely studied user behavioural factors are partly at fault for this. Hence, this study will explore occupants’ energy-related behaviour under multi-model indoor discomfort situations, particularly focusing on office environments.A modified discrete choice experiment design is used to reveal the preference of occupants for adjusting four types of building comfort control system (i.e., windows, blinds, lighting, and thermostat). In addition, these occupants’ choice preferences for four types of personal comfort adaptation measures are included (i.e., adjust clothing, have cold/hot beverages, use of personal heater and fan.). The choices are made under randomly assigned context scenarios based on attributes including weather, task, location, the preceding indoor environmental quality situation, and general attributes like demographics and current building control features. The data collected from the discrete choice experiment is used to build a predictive model that estimates the likelihood of occupants choosing a specific building control system under multi-model discomfort situations. The model offers guidance to building stakeholders in decision-making processes regarding the development and management of building energy transition/conservation strategies. Additionally, it will promote building consumption related researchers in creating more holistic building simulations models in the pursuit of more holistic sustainable building practices for future application. |
| Keywords: | Building Energy Efficiency; Indoor Environmental Quality; Occupant Behaviour; Sustainable Buildings |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-013 |
| By: | Anna Carroll; Dennis Guignet; O. Ashton Morgan |
| Abstract: | : Many universities strive to increase enrollment but this can put a strain on local housing markets, for both students and local residents. This study implements a stated preference discrete choice experiment to investigate how students trade off different housing features in the face of increasing rent due to higher demand, and ultimately estimates the resulting welfare effects on students. Random utility models are estimated, and suggest that when faced with increasing rent, most students prefer to move to cheaper housing that is farther away from campus, while some will decide to leave the university altogether. Results indicate, for example, that rent increases of $100 per month will lead to a 7.8 percentage point increase in students who move to an apartment that is farther from campus, and result in a 0.6-1.3 percentage point increase in students who would leave the university. By shedding light on the housing decisions of students, this study helps inform local governments and university officials trying to establish affordable housing options and sustainable student population growth. Key Words: : discrete choice experiment, housing choice, student housing, student welfare |
| JEL: | O18 R21 R31 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:apl:wpaper:24-21 |
| By: | Halkos, George E; Aslanidis, Panagiotis-Stavros; Landis, Conrad; Papadaki, Lydia; Koundouri, Phoebe |
| Abstract: | The present review examines the primary (heatwaves and air pollution) and cascading (population density, traffic and noise, health issues, and biodiversity loss) hazards in urban settlements. The motivation is to understand the interaction between hazards in urban areas to develop a novel holistic approach that enhances urban sustainability. Three objectives are (i) to monitor valuation studies that reveal willingness to pay (WTP) for major urban-related challenges, (ii) to assess non-marketed valuation studies, and (iii) to examine the interactions between the hazards and their impacts on people and the environment. Based on Environmental Valuation Reference Inventory and Ecosystem Services Valuation Database, from 5329 studies, 80 were retrieved that focus solely on the economic measures of 220 WTP values for different ecological and recreational issues during the period 2000-2023. The findings show that regarding the mean WTP (MWTP) values, the valuation studies reveal a MWTP of 142€ for heatwaves mitigation, whereas for air pollution 76€. Moreover, in terms of cascading hazards, the highest MWTP was for population density (298€), followed by biodiversity loss (96€), health issues (63€), and lastly by traffic and noise with 42€. However, biodiversity loss is the most significant stressor for all target groups (citizens, workers, and flora and fauna), therefore, policymakers should invest in green and blue infrastructure, energy-saving technologies, and transportation alternatives in order to improve urban resilience, safeguarding both human health and the natural environment. |
| Keywords: | climate change, heatwaves, air pollution, biodiversity loss, population density, WTP, valuation studies |
| JEL: | Q50 Q54 Q57 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122262 |
| By: | Makino, Keita; Compostella, Junia; Lee, Yongsung; Circella, Giovanni |
| Abstract: | Prior studies of travel mode choice in airport ground transportation identified several important relationships between traveler/trip attributes and the selected ground access mode(s). However, those studies did not comprehensively account for qualitative aspects of ground access mode choice, such as general and transportation-specific attitudes and perceptions of mode-specific airport infrastructure. To add insights into air travelers’ ground transportation choices, this study collected a dataset with a survey administered among travelers using four major airports in Northern California in the post-pandemic era.Among the analyses presented in the report, airport ground access mode choice was analyzed, and its relationships with travelers’ socio-demographics, attitudes toward transportation and related topics (e.g., environmental friendliness), and opinions about transportation infrastructure and services (e.g., airport parking fees). The authors identified relationships between air travelers’ attitudes or opinions and their mode choice not examined in prior studies. Specifically, travelers with pro-environment attitudes preferred public transit and ridehailing services over private vehicles. Travelers are more likely to choose public transit often if they highly rate its service frequency and accessibility from their home to a nearby station. The results suggest policymakers, airport authorities, and transit agencies consider electrification of ridehailing fleets, expansion of bus and rail service availability, and higher parking fees to reduce driving in private vehicles to the airport. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, Airport ground access, Travel Mode Choice, Attitudes and Perceptions, Airport infrastructure, Transportation Network Company (TNC) |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt21x0c45b |
| By: | Donges, Alexander; Streb, Jochen |
| JEL: | D22 N64 N94 R12 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc24:302389 |
| By: | Carmelo Rodríguez-Ã lvarez (Instituto Complutense de Análisis Económico (ICAE), Universidad Complutense de Madrid (Spain).) |
| Abstract: | We examine social choice correspondences (SCCs) -mappings from preference profiles to sets of alternatives- that satisfy strategy-proofness and unanimity when individuals are endowed with single-peaked preferences over alternatives, preferences over sets are consistent with Expected Utility Theory, uniform prior probabilities, and Bayesian Updating. Leveraging the relation between SCCs and probabilistic decision schemes -mappings from preference profiles to lotteries over alternatives- we extend the results by Ingalagavi and Sadhukhan (2023, Journal of Mathematical Economics 109, 102912). In one-dimensional spaces of alternatives, only the union of two single-valued strategy-proof SCCs satisfy strategy-proofness and unanimity. In multi-dimensional convex spaces of alternatives, only unions of up to two dictatorships satisfy both properties. |
| Keywords: | Strategy-Proofness; Single-Peaked Preferences; Social Choice Correspondences. |
| JEL: | C71 C78 D71 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ucm:doicae:2402 |
| By: | Bair, Sabrine; Miquel-Florensa, Josepa; Ozyilmaz, Hakan |
| Abstract: | This study examines the underadoption of digital wallets as network goods through a field experiment conducted in Jordan. We elicit consumers’ and merchants’ willingness-to-pay (WTP) for interoperable mobile wallets using an incentive-compatible mechanism and measure their expectations regarding cross-market adoption. Our findings indicate a low demand for digital wallets across both sides of the market, with consumers and merchants willing to pay approximately 35% and 40% of the market price, respectively. While consumers’ aggregate expectations of merchant adoption are accurate, they exhibit considerable individual heterogeneity. Crucially, consumers’ sensitivity to cross-network effects is limited: a 1 p.p. increase in crossside adoption expectations translates into a 0.013 USD increase in WTP. Meanwhile, merchants significantly underestimate consumer adoption and demonstrate approximately half the sensitivity of consumers to cross-side network effects. These results hold significant implications for designing interventions that exploit network effects in order to increase digital wallet adoption. |
| Keywords: | financial inclusion, network effects, digital wallet, digital financial literacy |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:tse:wpaper:129817 |
| By: | Salonia, Enrico Mattia |
| Abstract: | Revealed preference theory equates choices with preferences over the consequences these choices induce. Nevertheless, if a decision criterion prescribes an act for reasons unrelated to its consequences, the inference drawn regarding preferences can be misleading. I study the behaviour of non-consequentialist individuals who have preferences for universalisation. They choose the action that, in a counterfactual scenario where it is also chosen by everyone else, leads to their preferred consequences. I develop a model for individuals who value their choices in light of the counterfactual consequences they induce. Choices are interpreted as revealing a preference for counterfactual consequences. I impose axioms to single out the most prominent models of universalisation, compare them, highlight and arguably overcome their limitations. I propose a unifying model of universalisation inspired by the equal sacrifice principle. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:tse:wpaper:129835 |
| By: | Bert Van Landeghem; Thomas Dohmen; Arne Risa Hole; Annemarie Künn-Nelen |
| Abstract: | This study examines jobseekers' preferences for a variety of job attributes. It is based on a choice experiment involving 1, 852 clients of the Flemish Public Employment Service (PES). Respondents value flexibility (e.g., remote work and schedule flexibility), job security and social impact of the job, and require significant compensation for longer commute times. A majority (70%) would need very substantial wage increase beyond their acceptable baseline wage to compensate for less flexibility, job security or social impact. These findings enhance our understanding of labour supply decisions and can inform the design of salary packages and HR policies. |
| Keywords: | Reservation Wage; Job Search; Job Amenities; Compensating Differentials; Choice Experiments |
| JEL: | J31 J32 J64 J16 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2024_597 |
| By: | Guoxi Zhang; Jiuding Duan |
| Abstract: | This paper addresses the cost-efficiency aspect of Reinforcement Learning from Human Feedback (RLHF). RLHF leverages datasets of human preferences over outputs of large language models (LLM) to instill human expectations into LLMs. While preference annotation comes with a monetized cost, the economic utility of a preference dataset has not been considered by far. What exacerbates this situation is that given complex intransitive or cyclic relationships in preference datasets, existing algorithms for fine-tuning LLMs are still far from capturing comprehensive preferences. This raises severe cost-efficiency concerns in production environments, where preference data accumulate over time. In this paper, we see the fine-tuning of LLMs as a monetized economy and introduce an auction mechanism to improve the efficiency of the preference data collection in dollar terms. We show that introducing an auction mechanism can play an essential role in enhancing the cost-efficiency of RLHF while maintaining satisfactory model performance. Experimental results demonstrate that our proposed auction-based protocol is cost-efficient for fine-tuning LLMs by concentrating on high-quality feedback. |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2409.18417 |