Functional Form of Markovian Attribute-Level Best-Worst Discrete Choice Modeling

In this chapter, we present the attribute-level best-worst modeling. Structural properties are reviewed and extensions to the functional form under linear and nonlinear process are described. The time dependence is introduced via Markov decision process (MDP) along with transition probabilities of choice evolutions, under maximum utility function. Simulated and aggregated data are used to validate the functional form and the MDP scopes.

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