2013
DOI: 10.1016/j.jocm.2013.04.002
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Modelling travellers' heterogeneous route choice behaviour as prospect maximizers

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Cited by 30 publications
(5 citation statements)
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“…Travelers' preference heterogeneity is a topic of interest in the transportation community. Many studies in transportation (e.g., [33][34][35]) have confrmed its existence. In order to capture such a property, a latent class model framework was adopted in this study.…”
Section: Latent Class Mixed Logit Modelmentioning
confidence: 99%
“…Travelers' preference heterogeneity is a topic of interest in the transportation community. Many studies in transportation (e.g., [33][34][35]) have confrmed its existence. In order to capture such a property, a latent class model framework was adopted in this study.…”
Section: Latent Class Mixed Logit Modelmentioning
confidence: 99%
“…Nonetheless, it has been found that maximum utility theory cannot reproduce human behaviour in certain circumstances. Thus, alternative theories have been developed, such as bounded rationality [ 50 , 51 ] and prospect theory [ 52 54 ], that try to account for cognitive biases in the decision-making process. Even though these theories provide insights on different aspects of human choice behaviour, none can be considered ‘true’, and all have some limitations.…”
Section: Modelling Car-based Mobility As a Collective Behaviourmentioning
confidence: 99%
“…CPT frames the perceived outcomes as gains and losses by a reference point and uses the value function and the weighting function to jointly describe people's choice behaviour under risk and uncertainty. It has been applied to successfully model various travel-related behaviours (e.g., [27]), and some studies indicated that CPT exhibits better performance than EUT in capturing behaviour characteristics (bounded rationality and risk attitudes) of decision-making under risk and uncertainty (e.g., [28], [29]).…”
Section: Introductionmentioning
confidence: 99%