A Random Regret Minimization-based Discrete Choice Model

Caspar G. Chorus
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Caspar G. Chorus: Delft University of Technology

Chapter Chapter 2 in Random Regret-based Discrete Choice Modeling, 2012, pp 5-15 from Springer

Abstract: Abstract This Chapter presents the RRM-model. First, the Random Regret-function is presented and explained (Sect. 2.1). Subsequently, this function is compared with the classical linear-additive Random Utility-function (Sect. 2.2). Finally, it is shown how the Random Regret-function translates into MNL-type choice probabilities for a particular distribution of the random error terms (Sect. 2.3).

Keywords: Travel Time; Discrete Choice; Choice Probability; Random Error Term; Estimable Parameter (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/978-3-642-29151-7_2

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