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Table 1 Estimation results from generic automobile choice model. Norway 1996–2011
From: A generic discrete choice model of automobile purchase
Variable description | Variable name | Estimate | Robust t-statistic |
|---|---|---|---|
Continuous variables | |||
Real retail price measured in 100,000 NOK 2010 | Price | -0.153 | -6.44 |
Share of retail price that is not purchase tax or VAT | Resourcecostshare | 1.310 | 5.15 |
Operating cost: fuel price x fuel consumption per 10 km | Fuelcost | -0.063 | -5.60 |
Log of vehicle length times width (square metres) | Size | 1.560 | 6.32 |
Log of allowed load divided by Size (kg/sq m) | Load | 0.187 | 2.18 |
Diesel dummy x log of years passed since 1996 | Dieseltrend | 0.309 | 3.84 |
Engine power (kW) per 100 kg curb weight, raised to the power of −2, with sign reversed | Acceleration | 0.519 | 0.87 |
Dummies for vehicle attributes | |||
Diesel engine | C_Diesel | -0.803 | -3.99 |
Hybrid vehicle | C_Hybrid | 0.133 | 1.80 |
Battery electric vehicle | C_Electric | 0.660 | 1.99 |
4-wheel drive | C_Fourwheeldrive | 0.352 | 6.04 |
Frontwheel drive | C_Frontwheeldrive | 0.024 | 0.89 |
5 seats | C_Fiveseats | 0.071 | 3.27 |
6 or more seats | C_Sixormoreseats | 0.023 | 0.42 |
5 or more doors | C_Fiveormoredoors | 0.228 | 4.90 |
Dummies for vehicle make | |||
Toyota | Ctoyota | 3.12 | 8.66 |
Volkswagen | Cvolkswagen | 3.10 | 8.87 |
Ford | Cford | 2.46 | 7.81 |
Opel | Copel | 1.75 | 5.76 |
Peugeot | Cpeugeot | 2.31 | 6.41 |
Volvo | Cvolvo | 2.39 | 5.03 |
Audi | Caudi | 1.84 | 5.24 |
Nissan | Cnissan | 2.06 | 5.17 |
Mitsubishi | Cmitsubishi | 1.86 | 4.46 |
Mazda | Cmazda | 2.15 | 5.04 |
Hyundai | Chyundai | 1.46 | 4.37 |
Skoda | Cskoda | 1.77 | 4.79 |
BMW | Cbmw | 1.53 | 4.03 |
Mercedes-Benz | Cmercedes | 0.07 | 0.21 |
Renault | Crenault | 1.62 | 5.00 |
Honda | Chonda | 1.78 | 4.31 |
Suzuki | Csuzuki | 1.89 | 5.19 |
Citroën | Ccitroen | 1.30 | 3.80 |
Saab | Csaab | 1.90 | 4.91 |
Subaru | Csubaru | 1.32 | 3.00 |
Scale parameters | |||
Toyota | mutoyota | 3.96 | 6.01 |
Volkswagen | muvolkswagen | 4.52 | 5.87 |
Ford | muford | 3.86 | 5.74 |
Opel | muopel | 2.65 | 6.23 |
Peugeot | mupeugeot | 3.89 | 5.79 |
Volvo | muvolvo | 3.91 | 8.68 |
Audi | muaudi | 3.07 | 7.51 |
Nissan | munissan | 3.79 | 5.78 |
Mitsubishi | mumitsubishi | 3.53 | 5.31 |
Mazda | mumazda | 5.43 | 5.49 |
Hyundai | muhyundai | 2.81 | 3.74 |
Skoda | muskoda | 4.17 | 5.28 |
BMW | mubmw | 2.83 | 6.18 |
Mercedes-Benz | mumercedes | 1.63 | 7.73 |
Renault | murenault | 4.37 | 3.81 |
Honda | muhonda | 3.84 | 5.22 |
Suzuki | musuzuki | 4.50 | 4.96 |
Citroën | mucitroen | 3.26 | 4.36 |
Saab | musaab | 5.10 | 5.03 |
Subaru | musubaru | 3.55 | 6.31 |
All other makes | muother | 1.59 | 6.43 |
General statistics | |||
Number of parameters estimated | 56 | ||
Sample size (number of vehicles) | 1,617,303 | ||
Initial log-likelihood | 12,549,628.19 | ||
Final log-likelihood | 11,866,231.32 | ||
Likelihood ratio test | 1,366,793.7 | ||
Goodness-of-fit | Rho bar | 0.054 | |