A comparison between mixed logit model and latent class logit model for multi-profile best-worst scaling: evidence from mobile payment choice dataset

ABSTRACT

This paper uses a multi-profile best-worst scaling dataset to compare the mixed logit model and the latent class logit model for mobile payment choice. Three non-nested tests are applied to show the comparison results. The results indicate that the mixed logit model is superior to the latent class logit model in all three tests.

KEYWORDS:

• Multi-profile best-worst scaling
• mixed logit model
• latent class model
• non-nested test

Highlights

1. This study first compares the mixed logit model and the latent class logit model in best-worst scaling dataset.

2. This study employs three non-nested test to check the robustness of comparison results between mixed logit model and latent class logit model.

3. This study also discovers the mixed logit model is superior to latent class logit model which is inconsistent with previous research.

Acknowledgments

The financial support from the Japanese Ministry of Education, Culture, Sports, Science, and Technology through Grants-in-aid for Scientific Research (C) 15K03353 is gratefully acknowledged. All the views expressed in this paper and any errors are the sole responsibility of the authors.

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Funding

This work was supported by the Japanese of Education, Culture, Sports, Science, and Technology through Grants-in-aid for Scientific Research (C) [15K03353].