Table of Contents

Handbook of Choice Modelling

Handbook of Choice Modelling

Elgar original reference

Edited by Stephane Hess and Andrew Daly

Choice modelling is an increasingly important technique for forecasting and valuation, with applications in fields such as transportation, health and environmental economics. For this reason it has attracted attention from leading academics and practitioners and methods have advanced substantially in recent years. This Handbook, composed of contributions from senior figures in the field, summarises the essential analytical techniques and discusses the key current research issues. It will be of interest to academics, students and practitioners in a wide range of areas.

Chapter 25: Forecasting choice

Andrew Daly

Subjects: economics and finance, environmental economics, transport, environment, environmental economics, transport, urban and regional studies, transport


Forecasting choice behaviour has always been a strong motivation for choice modelling (Gapper and Rolfe, 1968; Daly et al., 1973; McFadden, 1978; Cattin and Wittink, 1982). But while reports for government and commercial organisations on the likely effects of policy or marketing initiatives are numerous, the focus of methodological work in choice modelling has largely been on the development of models rather than their use in forecasting, as can be seen in the chapters of this book. In this context, this chapter attempts to set out the major issues in choice forecasting methodology. The chapter is limited in specific ways. Much of the reporting of forecasts is contained in client reports and other ‘grey’ literature, or in conference papers. Other important information is available only informally. While referencing where possible, I have felt it better to give as complete coverage of the area as possible rather than restricting coverage to fully referenced points. Moreover, my experience, on which I am drawing quite heavily, is largely in the transport sector and there is therefore a preponderance of examples from that sector; it seems that long-term forecasting is more common in transport than in other sectors. Finally, there are quite a few separate aspects to forecasting with choice models and the chapter is therefore somewhat general in its treatment. Throughout, the focus is on forecasting aggregate choices, particularly demand for products or services, rather than predicting the behaviour of individual consumers.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information