Alternative decision rules in (travel) choice models: a review and critical discussion

Caspar G. Chorus and Sander van Cranenburgh

Chapter 13 in Handbook of Choice Modelling, 2024, pp 339-371 from Edward Elgar Publishing

Abstract: Ever since the inception of the discrete choice-modelling paradigm in the 1970s, the overwhelming majority of (travel) choice models have assumed a linear-additive utility maximization-based decision rule. However, over the past decade and a half, the interest in alternative decision rules has been increasing. Although it is often claimed that embedding such alternative decision rules - such as lexicographic choice, elimination-by-aspects, or regret minimization - in choice models holds the potential of increases in model performance, newly gained behavioural insights, and ultimately more informed (transport) policies, there are a number of conceptual and operational pitfalls associated with these alternative model forms. This paper discusses recent progress, pitfalls and potential associated with capturing alternative decision rules in discrete (travel) choice-models. Rather than providing a complete overview, the paper aims at providing food for thought and as such furthering a fruitful discussion on the topic.

Keywords: Economics and Finance; Environment; Geography; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2024
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