Advertisement

A Random Regret Minimization-based Discrete Choice Model

  • Caspar G. Chorus
Chapter
Part of the SpringerBriefs in Business book series (BRIEFSBUSINESS)

Abstract

This Chapter presents the RRM-model. First, the Random Regret-function is presented and explained (Sect. 2.1). Subsequently, this function is compared with the classical linear-additive Random Utility-function (Sect. 2.2). Finally, it is shown how the Random Regret-function translates into MNL-type choice probabilities for a particular distribution of the random error terms (Sect. 2.3).

Keywords

Travel Time Discrete Choice Choice Probability Random Error Term Estimable Parameter 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

  1. Chorus CG (2010) A new model of random regret minimization. Eur J Transp Infrastruct 10:181–196Google Scholar
  2. Chorus CG, Arentze TA, Timmermans HJP (2008) A random regret minimization model of travel choice. Transp Res B 42:1–18CrossRefGoogle Scholar
  3. Chorus CG, Arentze TA, Timmermans HJP (2009) Spatial choice: a matter of utility or regret? Environ Plan B 36:538–551CrossRefGoogle Scholar
  4. Hess S, Stathopoulos A, Daly A (in press) Mixing of behavioral processes: a modeling framework and three case-studies. Transportation. doi: 10.1007/s11116-011-9365-6
  5. McFadden D (1974) Conditional logit analysis of qualitative choice-behavior. In: Zarembka P (ed) Frontiers in econometrics. Academic Press, New YorkGoogle Scholar
  6. Train KE (2003) Discrete choice methods with simulations. Cambridge University Press, CambridgeCrossRefGoogle Scholar

Copyright information

© The Author(s) 2012

Authors and Affiliations

  • Caspar G. Chorus
    • 1
  1. 1. Department of Technology, Policy ManagementDelft University of TechnologyDelftThe Netherlands

Personalised recommendations