I have some explanatory variables and i have designed a stated preference survey design with those variables or attributes. Along with that I have asked questions about safety perception (only three questions measured in ordinal scale) keeping in mind not to enlarge the questionnaire. If I do factor analysis, these three questions will merge to one factor. My question is whether I can estimate an ICLV model directly incorporating the three perception based questions (as three questions are related to safety but not necessarily correlated) measured in ordinal scale, into the choice model estimation without doing factor analysis? Is there any other suggestions? Please help.
Considering that you are trying to develop an ICLV model through SEM, my suggestion shall be to go for PCA, identify the single factor from all 3 related questions ( as you predict) and integrate this factor with the model. This way, the maximum likelihood estimate shall be high, showing strength of your model.
However, if you want to integrate all 3 questions in your model separately, there is a chance of reduced max. likelihood estimate, which is not desired for any model. Needless to mention the model may also appear loaded with redundant variables, making the model presentation clumsy.
I have three items ( safety related questions measured in ordinal scale 1 to 5) and after factor analysis they result to one factor. I have got the factor loading in spss. How can I incorporate this result in multinomial logit choice model. Please help anyone.
You can read this paper to get a few insights:
doi:10.1016/j.csda.2005.03.011
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