ON FRONTIER SPECIFICATIONS FOR DISCRETE BINARY CHOICE ANALYSIS
探讨将离散选择模型中的条件间接效用函数视为前沿函数的后果，通过交通模式选择的实证研究，发现前沿模型隐含的时间价值远低于传统Logit模型，意味着改善出行时间的政策对消费者的价值可能低于传统认知。
ABSTRACT. In estimating a discrete choice model one is actually estimating the parameters of a conditional indirect utility function. I explore the consequences of recognizing that this function is a maximum‐value (frontier) function. I formulate several frontier choice models and, using a pilot empirical study of transportation mode choice, compare the resulting estimates with those of the conventional logit specification. Most strikingly, it appears that the values of time implied by the frontier models are substantially below those of the logit model. This implies that policies designed to improve travel times may be of less value to consumers than is conventionally believed.