Specification of regret-based models of choice behaviour: formal analyses and experimental design based evidence

Soora Rasouli () and Harry Timmermans
Additional contact information
Soora Rasouli: Eindhoven University of Technology
Harry Timmermans: Eindhoven University of Technology

Transportation, 2017, vol. 44, issue 6, No 17, 1555-1576

Abstract: Abstract Travel behaviour analysis has recently witnessed a rapidly growing interest in regret-based models of choice behaviour. Two different model specifications have been introduced in the transportation literature. Chorus et al. (Transportation Research B 42: 1–18, 2008a; in: Proceedings 87th Annual Meeting of the Transportation Research Board, Washington DC, 2008b) specified regret as a (non) linear function of the difference between the best-foregone choice alternative and the chosen alternative. Later, as an approximation to the original specification, Chorus (2010) suggested a logarithm function of utility differences between all choice alternatives, mainly for ease of estimation. This paper makes two contributions to this literature. First, formal analyses are conducted to identify the parameter space where the logarithmic specification becomes theoretically inferior to the original specification. Second, an empirical stated choice study on the choice of shopping centre is conducted to empirically test which specification best describes stated choices. Results suggest that for the collected data the original specification outperforms the new specification. Implications of this finding for the application of regret-based choice models in travel behaviour analysis are discussed.

Keywords: Regret based models; Shopping centre choice; Stated choice experiment (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://link.springer.com/10.1007/s11116-016-9714-6 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:transp:v:44:y:2017:i:6:d:10.1007_s11116-016-9714-6

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11116/PS2

DOI: 10.1007/s11116-016-9714-6

Access Statistics for this article

Transportation is currently edited by Kay W. Axhausen

More articles in Transportation from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().