Abstract

Lifestyle, indicating preferences towards a particular way of living, is a key driver of the decision of where to live. We employ latent class choice models to represent this behavior, where the latent classes are the lifestyles and the choice model is the choice of residential location. Thus, we simultaneously estimate lifestyle groups and how lifestyle impacts location decisions. Empirical results indicate three latent lifestyle segments: suburban dwellers, urban dwellers, and transit-riders. The suggested lifestyle segments have intriguing policy implications. Lifecycle characteristics are used to predict lifestyle preferences, although there remain significant aspects that cannot be explained by observable variables.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.