Limits of Logit Models in Transportation Policy Evaluation : Expected Utilities in Logit Models

교통정책평가에 있어 Logit모형의 한계 : Logit모형에 있어서의 기대효용

This article shows that, in the logit models, the(conditional) expected utility of the decision makers choosing an alternative is invariant across all alternatives. This property of the logit model implies that the logit model can not explain the distributional wealfare effects of a transportation policy (or transportation investment) among different alternatives, and thus the logit model is not proper for evaluating transportation policy in equity aspects.