Producción Académica Jaimes, Rocío Explain discrete choice methods by animation videos Tesis para la obtención del título de posgrado de Magister en Dirección de Empresas Director: Bernhardt, José Alejandro Documento disponible para su consulta y descarga en Biblioteca Digital - Producción Académica, repositorio institucional de la Universidad Católica de Córdoba, gestionado por el Sistema de Bibliotecas de la UCC. UNIVERSIDAD CATOLICA DE CORDOBA INSTITUTO DE CIENCIAS DE LA ADMINISTRACIÓN TRABAJO FINAL DE MAESTRÍA EN DIRECCIÓN DE EMPRESAS EXPLAIN DISCRETE CHOICE METHODS BY ANIMATION VIDEOS AUTOR: ROCIO JAIMES DIRECTOR: JOSÉ ALEJANDRO BERNHARDT MONTENEGRO Frankfurt (Oder), 2020 Explain Discrete Choice Methods by Animation Videos Acknowledgements First, I would like to thank my supervisor in Germany, Sven Müller, for his guidance and support during all these months working on my thesis. I greatly appreciate the time he dedicated to clarifying my doubts. Also, I would like to thank my thesis supervisor in Argentina, Alejandro Bernhardt, for their assistance and knowledge during the process of adapting my thesis for the ICDA. Thanks to his guidance I have been able to complete this stage of my education. I would also like to thank Europa-Universität Viadrina, who accepted me to partic- ipate in their program, and to the Catholic University of Cordoba for giving me the oppor- tunity to finish my studies in Germany. Finally, I would like to thank my parents, whose unconditional support made it pos- sible to achieve my goals, to my boyfriend, whose emotional support was priceless, and to my brothers and friends. ROCIO JAIMES ii Explain Discrete Choice Methods by Animation Videos Abstract 2020 was the year in which distance learning (also known as Virtual Education) gained importance, providing an analysis framework on existing tools in order to enhance their results. Our goal was to provide a tool that would assist students in understanding the Discrete Choice Methods, and for this we have started from an analysis of the existing types of education: Traditional Education, Virtual Education and Hybrid Education, sum- marizing the importance of the latter, and the positive results what can be obtained in relation to the other two. Educational videos, their elements and classifications were also analyzed, making a distinct emphasis on how to achieve Student Engagement through Working Memory, which can be stimulated through audiovisual channels. Then the types of Animated videos were discussed, of which one called Whiteboard Video was selected for our project. After that, a theoretical framework of the Discrete Choice Models was developed, its elements and the Utility Function that was used as a basis for the analysis, getting to explain the Multinomial Logit Model and the Blue Bus/Red Bus paradox. Finally, our experience preparing the video was shared, exposing both advantages and disad- vantages of each alternative analized about wich animation program should be used and stating the decision made. The creative process was also shared along with the difficulties faced to achieve our outcome. The result was an Animated Whiteboard Video, which meets cognitive requirements according to what was analyzed. How this video influences the students, and if it can improve understanding remains to be tested in the future. Keywords Discrete Choice Methods, Discrete Choice Model, Multinomial Logit Model, Blue Bus/Red Bus paradox, Educational Video, types of Educational Videos, Elements Educational Vid- eos, Virtual Education, Traditional Education, Hybrid Education, Animated Video, Withe- board Video, Student Engagement, Cognitive Load ROCIO JAIMES iii Explain Discrete Choice Methods by Animation Videos Contents Acknowledgements .................................................................................................. ii Abstract .................................................................................................................... iii Keywords ................................................................................................................. iii List of acronyms ..................................................................................................... vii List of Figures ........................................................................................................ viii List of Tables .......................................................................................................... 10 List of Equations .................................................................................................... 11 List of Appendix ..................................................................................................... 14 I. INTRODUCTION .............................................................................................. 15 1.1. Previous Studies ...................................................................................... 16 1.2. Educational video - Summary of elements .............................................. 17 1.3. Estructure ................................................................................................ 18 II. EDUCATIONAL VIDEOS................................................................................. 19 2.1. Educational Video - Types ....................................................................... 19 2.1.1. Screencasts Videos ....................................................................... 20 2.1.2. Talking-Head Video ....................................................................... 21 2.1.3. Lecture/Classroom Recording ....................................................... 22 2.1.4. Simulation Video ............................................................................ 24 2.1.5. Animation Video ............................................................................. 24 2.2. Accurate Content ..................................................................................... 27 2.2.1. Cognitive Load ............................................................................... 28 2.2.2. Student Engagement ..................................................................... 30 ROCIO JAIMES iv Explain Discrete Choice Methods by Animation Videos 2.2.3. Active Learning .............................................................................. 31 2.3. Effectiveness of Educational Videos: Hybrid Education ........................... 32 III. DISCRETE CHOICE MODEL (DCM) ............................................................... 36 3.1. DCM - Elements ........................................................................................ 36 3.1.1. The Decision Maker (DM) .............................................................. 36 3.1.2. The Alternatives ............................................................................. 37 3.1.3. The Attributes of the Alternatives ................................................... 38 3.1.4. The Decision Rule ......................................................................... 38 3.2. The Utility Theory ..................................................................................... 39 3.2.1. The Utility Function with 휀 .............................................................. 40 3.2.2. Components of the Utility Function ................................................ 41 3.2.3. Attributes of Alternatives ................................................................ 43 3.2.4. Characteristics of the Decision Maker ........................................... 43 3.2.5. The Error Term .............................................................................. 44 3.3. Transportation Problem ........................................................................... 45 IV. THE MULTINOMIAL LOGIT MODEL .............................................................. 49 4.1. Logit Models ............................................................................................ 49 4.2. Transportation problem with Logit Probability .......................................... 52 4.3. The Sigmoid shape of Multinomial Logit Probabilities .............................. 53 4.4. The Equivalent Differences (ED) Property ............................................... 54 4.5. Independence of Irrelevant Alternatives Property .................................... 57 4.5.1 . The Red Bus and Blue Bus Paradox ............................................ 59 4.5.2. Solution to IIA Paradox ................................................................. 62 4.5.3. IIA advantages .............................................................................. 65 V. MNL VIDEO PRODUCTION ............................................................................ 67 ROCIO JAIMES v Explain Discrete Choice Methods by Animation Videos 5.1. Video Editors ........................................................................................... 68 VI. Conclusion ...................................................................................................... 77 6.1. Achieved results and future development ................................................ 78 References .............................................................................................................. 80 Appendix ................................................................................................................. 84 Statement ................................................................................................................ 91 ROCIO JAIMES vi List of