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Lane changing maneuvers have a significant impact on macroscopic and microscopic characteristics of traffic flows due to the interference effect they have on surrounding traffic. Understanding the factors which affect drivers' lane changing behavior is important due to the implication of lane changing models in variety of traffic and transportation studies. This paper reviews the existing lane changing models and assesses the strengths and weaknesses of each model type. In addition, the lane changing models are classified according to their characteristics. Then, limitations of the existing lane changing models are identified. Finally, the findings and conclusions of the paper are summarized and more promising research directions are suggested.