Overview
The desire to understand mobility has been a central motivation for the development of so-called discrete choice-theory. Over the years, this Nobel prize-winning econometric modelling approach has shown to be very effective in predicting choices of individual travellers as well as aggregate mobility patterns. The large majority of discrete choice-models are built on utility-maximisation decision rules.
The proposed research pushes the envelope of a new, regret-minimisation based discrete choice-model class recently proposed by the applicant. The approach is based on the premise that people, when choosing, aim to avoid the situation where one or more non-chosen alternatives perform better than the chosen one on one or more attributes.
Compared to utility-based models, the regret-based approach allows for substantial increases in realism and predictive performance, while displaying a high level of econometric tractability. As such, regret-based discrete choice-theory provides a particularly effective modelling approach which may help scholars and policy-makers better understand, predict and manage mobility.
The proposed research aims to provide methodological breakthroughs and substantive insights regarding regret-based modelling of mobility. In particular, it aims at providing the following innovations:
1) Extension of regret-based discrete choice-models towards capturing learning dynamics and choice from ordered alternatives.
2) Derivation of a regret-based measure of accessibility, and a regret-based stochastic user equilibrium in transport networks.
3) Integration of the regret-based approach in transport network-optimisation models.
Derivation of empirical insights into the role of regret minimisation in traveller decision-making and into the potential of the developed regret-based approach as a model of mobility. Data is collected using stated choice-experiments and an interactive travel simulator-experiment.
Funding
Results
Scientific article
- C.G. Chorus, G. de Jong(2010): Spijtminimalisatie Tijdschrift Vervoerswetenschap ISSN: 1571-9227.
- C.G. Chorus(2011): Modeling politicians' preferences for road pricing policies: A regret-based and utilitarian perspective Transport Policy pp. 856 - 861 ISSN: 0967-070X.
- C.G. Chorus(2011): Modeling experienced accessibility for utility-maximizers and regret-minimizers Journal of Transport Geography pp. 1155 - 1162 ISSN: 0966-6923.
- C.G. Chorus(2012): What about behavior in travel demand modeling? An overview of recent progress. Transportation Letters pp. 93 - 104
- C.G. Chorus(2012): Spijtminimalisatie als discrete keuzemodel: Een overzicht van empirische vergelijkingen met het nutsmaximalisatiemodel Tijdschrift Vervoerswetenschappen pp. 47 - 64
- C.G. Chorus(2012): Random Regret Minimization: An overview of model properties and empirical evidence Transport Reviews pp. 75 - 92
- M Thiene, M Boeri, C.G. Chorus(2012): Random Regret Minimization: Exploration of a new choice model for environmental and resource economics. Environmental and Resource Economics pp. 413 - 429
- C.G. Chorus(2012): Regret Theory based route choices and traffic equilibria Transportmetrica pp. 291 - 305
- S Bekhor, C.G. Chorus, T Toledo(2012): Stochastic User Equilibrium for route choice model based on Random Regret Minimization Transportation Research Record pp. 100 - 108
- C.G. Chorus(2012): Logsums for utility-maximizers and regret-minimizers, and their relation with desirability and satisfaction Transportation Research Part A pp. 1003 - 1012
- EW de Bekker-Grob, CG Chorus(2013): Random regret-based discrete choice modelling: An application to health care PharmacoEconomics pp. 623 - 634
- CG Chorus(2013): Regret, rejoice, and convex demand for quality: Paving the way for superstars Medium Econometrische Toepassingen pp. 2 - 11
- CG Chorus, M Bierlaire(2013): An empirical comparison of travel choice models that capture preferences for compromise alternatives Transportation pp. 549 - 562
- CG Chorus, JM Rose, DA Hensher(2013): Regret minimization or utility maximization: It depends on the attribute Environment and Planning Part B pp. 154 - 169
- MJ Beck, CG Chorus, JM Rose, DA Hensher(2013): Vehicle purchasing behavior of individuals and groups: Regret or reward? Journal of Transport Economics and Policy pp. 475 - 492
- CG Chorus, MJ Koetse, A Hoen(2013): Consumer preferences for alternative fuel vehicles: Comparing a utility maximization and a regret minimization model Energy Policy pp. 901 - 908
Chapter in book
- CG Chorus, JM Rose(2013): Choice modelling: The state of the art and the state of practice pp. 229 - 242 , London
Book or monography
- C.G. Chorus(2012): Random regret-based discrete choice modeling: A tutorial
Professional publication
- C.G. Chorus(2011): Spijtmodel biedt nieuwe inzichten keuzegedrag ISSN: 0377-8495.