A Random Regret-Minimization model of travel choice

By Caspar G. Chorus, T. Arentze, H. Timmermans. 2008

374 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Transportation

View Paper: https://www.semanticscholar.org/paper/87f04fd3b32d61e1ce2d671c2166027f43330fad

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Citations in the corpus

Random regret minimization or random utility maximization: An exploratory analysis in the context of automobile fuel choice (2013, neutral): “An alternative behavioural framework that has been recently promoted in the travel choice literature by Chorus and his colleagues (Chorus et al. 2008, 2009, and Chorus 2010) is random regret minimization (RRM) in which the chosen alternative depends on the anticipated performance of non-chosen…”
Joint model of freight mode choice and shipment size: A copula-based random regret minimization framework (2019, methodology): “In the RRM based approach, the shipping time and shipping cost of both the chosen alternative and the competitor alternatives enter into the VOT equation.”
Latent class structures: taste heterogeneity and beyond (2014, methodology): “…to dominate, it is important to recognise that alternative paradigms for decision making have been proposed, for example the elimination by aspects model of Tversky (1972), but also more recent work based on the concepts of happiness (Abou-Zeid and Ben-Akiva, 2010) and regret (Chorus et al., 2008).”
Random Regret Minimization: An Overview of Model Properties and Empirical Evidence (2012, methodology): “The RRM-based model presented in Chorus et al. (2008) postulates that, when choosing between alternatives, decision-makers aim to minimize anticipated random regret, and that the level of anticipated random regret that is associated with the considered alternative i is composed of an i.i.d. random…”
Response to Travel Information: A Behavioural Review (2015, methodology): “Another theory that has grown in importance in the area of transport is Regret Theory (Loomes and Sugden, 1982) and its extension in the form of Random Regret Minimization (Chorus et al., 2008).”
The promises of big data and small data for travel behavior (aka human mobility) analysis (2016, background): “(Rasouli and Timmermans, 2015), and regret theory (Chorus et al., 2008).”
How much do incentives affect car purchase? Agent-based microsimulation of consumer choice of new cars—Part I: Model structure, simulation of bounded rationality, and model validation (2009, background): “Van den Bergh et al. (2000) review and highlight the need to explore alternative models of behavior for environmental policy; e.g., non- and semi-compensatory models have been applied to travel choice modeling (Arentze and Timmermans, 2007; Cantillo and Ortúzar, 2005; Chorus et al., 2008).”
A New Model of Random Regret Minimization (2010, methodology): “…choices has been translated into a generic approach for modeling discrete (travel) choice-behavior: this Random Regret Minimization-approach (RRM, Chorus et al. (2008)) is developed for the econometric analysis of risky as well as riskless choices in multinomial and multi-attribute contexts.”
Visual Attention and Attribute Attendance in Multi-Attribute Choice Experiments (2015, neutral): “lexicographic, (Tversky, 1972) or random regret (Chorus et al., 2008)).”