Risk Aversion in Travel Mode Choice with Rank-Dependent Utility

Matthieu de Lapparent and Moshe Ben-Akiva

Mathematical Population Studies, 2014, vol. 21, issue 4, 189-204

Abstract: Using 2004 stated preference data on travel mode collected in the Z�rich area, different parametric specifications of the rank-dependent utility function in a logit mixture model show that commuters are weakly averse to small-time losses. The results also justify Yaari's dual theory of choice under risk, that the utility function is linear on outcomes but that the perception of corresponding probabilities is biased. For leisure travel, the travelers are risk neutral to small losses of time.

Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/08898480.2013.836415 (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:taf:mpopst:v:21:y:2014:i:4:p:189-204

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/GMPS20

DOI: 10.1080/08898480.2013.836415

Access Statistics for this article

Mathematical Population Studies is currently edited by Prof. Noel Bonneuil, Annick Lesne, Tomasz Zadlo, Malay Ghosh and Ezio Venturino

More articles in Mathematical Population Studies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().