Psychological Roots
Early psychology work involved the typical experiment: Here are two objects with weights, w1 and w2, which is heavier? The finding from such an experiment would be that the greater the difference in weight, the greater the probability of choosing correctly. Graphs similar to the one on the right result.
Louis Leon Thurstone proposed (in the 1920s) that perceived weight,
- w = v + e,
where v is the true weight and e is random with
- E(e) = 0.
The assumption that e is normally and identically distributed (NID) yields the binary probit model.
Read more about this topic: Mode Choice
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