Hypothetical bias and decision-rule effect in modelling discrete directional choices
Milad Haghani and
Transportation Research Part A: Policy and Practice, 2018, vol. 116, issue C, 361-388
This empirical study investigates, in parallel, two key questions in relation with modelling discrete choices. (i) To what extent econometric modelling estimates and predictions derived from responses to hypothetical choice scenarios differ from those of an equivalent realistic choice context (i.e. hypothetical bias)? (ii) To what extent econometric modelling estimates and predictions differ as a result of postulating “regret minimisation” as the decision rule as opposed to the “utility maximisation” assumption (i.e. decision-rule effect)? The magnitude of these two effects are also compared relatively.
Keywords: Contextual bias; Random regret minimization; Random regret logit; Regret theory; Choice rule; Choice axiom; Axiomatic decision theories; Choice experiments (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:transa:v:116:y:2018:i:c:p:361-388
Ordering information: This journal article can be ordered from
https://shop.elsevie ... _01_ooc_1&version=01
Access Statistics for this article
Transportation Research Part A: Policy and Practice is currently edited by John (J.M.) Rose
More articles in Transportation Research Part A: Policy and Practice from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().