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This paper introduces three hierarchical mobile IP schemes, i.e. hierarchical mobile IP (HMIP), dynamic HMIP, and distributed and dynamic HMIP to improve the handoff performance, and develops a model for cost analysis based on one-dimensional random walk of mobile host. Then the paper compares signaling transmission cost, packet delivery cost and total cost of the three schemes respectively, and discusses the effects of different home handoff thresholds and directional walk probabilities on these costs. Numerical results show that the DHMIP scheme has best performance among the three under small home handoff threshold.