Modeling experienced accessibility for utility-maximizers and regret-minimizers

Caspar Chorus and Gerard C. de Jong

Journal of Transport Geography, 2011, vol. 19, issue 6, 1155-1162

Abstract: This paper argues that there is a discrepancy between what Logsum-measures of accessibility aim to measure (experienced-utility) and what they actually measure (decision-utility). The latter type of utility refers to the evaluation of an alternative with the aim of making a decision, while the former refers to the evaluation of a chosen alternative after the choice has been made. We argue that accessibility should preferably be conceptualized and operationalized in terms of experienced-utility, but that this type of utility is difficult to measure. Motivated by these observations we show, taking the Logsum as a starting point, how its building blocks (parameters estimated from choice patterns) can be used to construct closed-form and easy to compute accessibility-measures that provide an approximation of experienced-utility. We distinguish between decision-making based on utility-maximization and regret-minimization premises. Using a small-scale case-study building on departure time-choice data, we illustrate the working of the developed accessibility-measures and highlight how they differ from the Logsum-approach.

Keywords: Accessibility; Logsum; Experienced-utility; Decision-utility; Random Regret Minimization (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (20)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jotrge:v:19:y:2011:i:6:p:1155-1162

DOI: 10.1016/j.jtrangeo.2011.02.009

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