Estimating regret-rejoice functions allowing for attribute indifference using polynomial expressions

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Abstract

Regret-based models have recently been introduced in transportation research as an alternative to the utilitymaximizing discrete choice models. Besides the studies examining the predictive performance of regret-based models, relative to random utility models (MNL in particular), the development of these models has focused on the specification of the regret function. While the original model only included regret, more recent models also incorporate the concept of rejoice. In addition, the curvature of the regret-rejoice function has been put under scrutiny. In this paper, we suggest a flexible specification using polynomial expressions, which does not require any a priori assumptions about the curvature of the regret-rejoice function, and in addition incorporates the notion of preference indifference.

Original languageEnglish
Title of host publicationProceedings of the 21st International Conference of Hong Kong Society for Transportation Studies, HKSTS 2016 - Smart Transportation
EditorsA.W.G. Wong, S.H.F. Wong, G.L.M. Leung
PublisherHong Kong Society for Transportation Studies
Pages59-65
Number of pages7
ISBN (Electronic)978-988158145-7
Publication statusPublished - 1 Jan 2018
Event21st International Conference of Hong Kong Society for Transportation Studies (HKSTS 2016) - Hong Kong, Hong Kong
Duration: 10 Dec 201612 Dec 2016
http://www.hksts.org/conf16.htm

Conference

Conference21st International Conference of Hong Kong Society for Transportation Studies (HKSTS 2016)
Abbreviated titleHKSTS
CountryHong Kong
CityHong Kong
Period10/12/1612/12/16
OtherSmart Transportation
Internet address

Keywords

  • Indifference
  • Polynomial expression
  • Regret-rejoice

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  • Cite this

    Rasouli, S., & Timmermans, H. J. P. (2018). Estimating regret-rejoice functions allowing for attribute indifference using polynomial expressions. In A. W. G. Wong, S. H. F. Wong, & G. L. M. Leung (Eds.), Proceedings of the 21st International Conference of Hong Kong Society for Transportation Studies, HKSTS 2016 - Smart Transportation (pp. 59-65). Hong Kong Society for Transportation Studies.