Bounded Rational Choice Behaviour : Applications in Transport
- edited by Soora Rasouli, Harry Timmermans.
- English. English.
- First edition.
- Bingley, England : Emerald, 2015.
- Copyright notice
- Physical description
- 1 online resource (289 pages) : illustrations
- Includes bibliographical references at the end of each chapters and index.
- Introduction. Frontiers in modelling bounded rationality in travel behaviour research / Soora Rasouli and Harry Timmermans
- 1. Models of bounded rationality under certainty / Soora Rasouli and Harry Timmermans
- 2. Utility maximisation and regret minimisation / Stephane Hess and Caspar G. Chorus
- 3. Relative utility modelling / Junyi Zhang
- 4. The influence of varying information load on inferred attribute non-attendance Andrew T. Collins and David A. Hensher
- 5. The heterogeneous heuristic modeling framework for inferring decision processes / Wei Zhu and Harry Timmermans
- 6. Investigating situational differences in individuals' mental representations of activity-travel decisions / Oliver Horeni, Theo Arentze, Benedict G.C. Dellaert and Harry Timmermans
- 7. Towards a novel classifier for the representation of bounded rationality in models of travel demand / Davy Janssens and Geert Wets
- 8. Bounded rationality in dynamic traffic assignment / WY Szeto, Yi Wang and Ke Han
- 9. Incorporating bounded rationality in a model of endogenous dynamics of activity-travel behaviour / Ifigenia Psarra, Theo Arentze and Harry Timmermans
- 10. Multidimensional travel decision-making / Chenfeng Xiong, Xiqun Chen and Lei Zhang
- 11. Prospect theory and its applications to the modelling of travel choice / Erel Avineri and Eran Ben-Elia.
- Front Cover; Bounded Rational Choice Behaviour: Applications in Transport; Copyright page; Contents; List of Contributors; Preface; Frontiers in Modelling Bounded Rationality in Travel Behaviour Research: Introduction to the Collection of Chapters; References;
- Chapter 1 Models of Bounded Rationality under Certainty; 1.1 Framework; 1.2 Non-Optimal Decision Mechanisms; 1.3 Considering a Subset of Influential Attributes; 1.4 Indifference between Small Differences in Utility or Attribute Values; 1.5 Considering a Subset of Choice Alternatives; 1.6 Applications; 1.7 Conclusions and Discussion.
- 3.2.5 Reflecting the Non-linearity of Context Dependency3.3 Major Findings of Existing Studies; 3.3.1 Choices of Destinations and Stop Patterns; 3.3.2 Dynamic Travel Mode Choice; 3.3.3 Travel Information and Travel Behaviour; 3.3.4 Choices of Packaged Tours; 3.3.5 Choice Set Generation; 3.4 Further Improvements; 3.4.1 Modelling Improvements; 3.4.2 Model Estimation; 3.5 Conclusion; References;
- Chapter 4 The Influence of Varying Information Load on Inferred Attribute Non-Attendance; 4.1 Introduction; 4.2 Methodology; 4.3 Data and Model Specifications; 4.4 Results; 4.5 Discussion; References.
- Chapter 5 The Heterogeneous Heuristic Modeling Framework for Inferring Decision Processes5.1 Motivation; 5.2 Modeling Framework; 5.2.1 Satisficing Decision; 184.108.40.206 Preference structure; 220.127.116.11 Deriving decision heuristics; 18.104.22.168 Choice of heuristics; 22.214.171.124 Mental effort; 126.96.36.199 Risk perception; 188.8.131.52 Expected outcome; 5.2.2 Extension to Comparative Decision; 5.3 Applications; 5.3.1 The Go-Home Decision; 184.108.40.206 Model specification; 220.127.116.11 Results; 5.3.2 The Direction Choice Decision; 18.104.22.168 Model specification; 22.214.171.124 Results; 5.4 Conclusion and Future Work; References.
- Chapter 6 Investigating Situational Differences in Individuals' Mental Representations of Activity-Travel Decisions: Progress and Empirical Illustration for the Impact of Online Alternatives6.1 Introduction; 6.2 Mental Representations of Complex Decision Problems; 6.2.1 Theory and Concepts; 6.2.2 Measuring Mental Representations; 6.3 Case Study; 6.3.1 Choice Task and Experimental Design; 6.3.2 Data Collection and Sample; 6.3.3 Analysis; 126.96.36.199 The complexity of respondents' mental representations; Number of recalled considerations; Number of attributes and number of benefits.
This book brings together frontier research in transportation and travel behaviour on the formulation and estimation of models of bounded rationality to analyse and predict various facets underlying daily activity-travel behaviour. Key behavioural principles and mechanisms relate to simplifying decision complexity by ignoring particular attributes, developing context and task-dependent mental representations, deriving decision heuristics, adding emotional aspects to cognitive assessments of choice options, regret-minimization, semi-compensatory decision rules based on mental effort and risk perception, learning and adaptation, satisfying decision rules and prospect theoretic approaches. The book is important reading for transportation researchers and professionals who are interested in the latest developments in transport demand forecasting. It offers historical reviews of the development of models of bounded rationality in this field of research, and a variety of new concepts and modelling approaches that should be inspirational to both new and experienced researchers in this field of research and application.
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- Bounded Rational Choice Behavior
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