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Bounded rational choice behaviour - Soora Rasouli

Year 2015


PrefaceFrontiers in Modelling Bounded Rationality in Travel Behaviour Research: Introduction to the Collection of ChaptersChapter 1 Models of Bounded Rationality under Certainty1.1. Framework1.2. Non-Optimal Decision Mechanisms1.3. Considering a Subset of Influential Attributes1.4. Indifference between Small Differences in Utility or Attribute Values1.5. Considering a Subset of Choice Alternatives1.6. Applications1.7. Conclusions and DiscussionChapter 2 Utility Maximisation and Regret Minimisation: A Mixture of a Generalisation2.1. Introduction2.2. Model Structures2.2.1. The Generalised RRM Model2.2.2. Mixture Model2.3. Empirical Analysis2.3.1 Data2.3.2. Results2.4. Summary and ConclusionsChapter 3 Relative Utility Modelling3.1. Introduction3.2. Relative Utility Modelling3.2.1. General Formulation3.2.2. Alternative-Oriented Relative Utility3.2.3. Representing Quasi-Nested Choice Structure3.2.4. Endogenous Modelling of Choice Set Generation3.2.5. Reflecting the Non-linearity of Context Dependency3.3. Major Findings of Existing Studies3.3.1. Choices of Destinations and Stop Patterns3.3.2. Dynamic Travel Mode Choice3.3.3. Travel Information and Travel Behaviour3.3.4. Choices of Packaged Tours3.3.5. Choice Set Generation3.4. Further Improvements3.4.1. Modelling Improvements3.4.2. Model Estimation3.5. ConclusionChapter 4 The Influence of Varying Information Load on Inferred Attribute Non-Attendance4.1. Introduction4.2. Methodology4.3. Data and Model Specifications4.4. Results4.5. DiscussionChapter 5 The Heterogeneous Heuristic Modeling Framework for Inferring Decision Processes5.1. Motivation5.2. Modeling Framework5.2.1. Satisficing Decision5.2.1.1. Preference structure5.2.1.2. Deriving decision heuristics5.2.1.3. Choice of heuristics5.2.1.4. Mental effort5.2.1.5. Risk perception5.2.1.6. Expected outcome5.2.2. Extension to Comparative Decision5.3. Applications5.3.1. The Go-Home Decision Model specification5.3.1.2. Results5.3.2. The Direction Choice Decision5.3.2.1. Model specification5.3.2.2. Results5.4. Conclusion and Future WorkChapter 6 Investigating Situational Differences in Individuals' Mental Representations of Activity-Travel Decisions: Progress and Empirical Illustration for the Impact of Online Alternatives6.1. Introduction6.2. Mental Representations of Complex Decision Problems6.2.1. Theory and Concepts6.2.2. Measuring Mental Representations6.3. Case Study6.3.1. Choice Task and Experimental Design6.3.2. Data Collection and Sample6.3.3. Analysis6.3.3.1. The complexity of respondents' mental representations6.3.3.2. The content of respondents' mental representations6.3.4. Conclusion6.4. Conclusions and DiscussionChapter 7 Towards a Novel Classifier for the Representation of Bounded Rationality in Models of Travel Demand7.1. Introduction to Decision Theory7.2. Decision Theory in Activity-Based Models7.2.1. Introduction7.2.2. Decision Theory in AB Models7.3. Bayesian Networks7.3.1. General Concepts7.3.2. Parameter Learning7.3.3. Entering Evidences7.3.4. Structural Learning7.4. Bayesian Network Classifiers: Problem Formulation7.5. Towards A New Integrated Classifier7.6. Data and Design of the Experiments7.6.1. Data7.6.2. Design of the Experiments7.7. Results7.7.1. Model Comparison: Accuracy Results7.7.2. Model Comparison in Terms of Model and Individual Rule Complexity7.7.3. Activity Pattern Level Analysis7.7.4. Trip Matrix Level Analysis7.8. Conclusion and Discussion of the ResultsChapter 8 Bounded Rationality in Dynamic Traffic Assignment8.1. Introduction8.2. Dynamic Traffic Assignment8.2.1. Problem Definition8.2.2. Example8.2.3. Travel Flow Component8.2.4. Wardrop's First Principle and its Dynamic Extensions8.3. Bounded Rationality in Traffic Assignment8.4. Boundedly Rational Dynamic User Equilibrium Route Choice Assignment8.4.1. Tolerance-Based Dynamic User Optimal Principle8.4.2. Nonlinear Complementarity Problem (NCP) Formulation8.4.3. Solution Existence and Uniqueness8.4.4. Solution Method8.5. Boundedly Rational Dynamic user Equilibrium Route and Departure Time Choice Assignment8.6. Concluding RemarksChapter 9 Incorporating Bounded Rationality in a Model of Endogenous Dynamics of Activity-Travel Behaviour9.1. Introduction9.2. The Model9.2.1. Activity Profiles and Universal Choice Set9.2.2. Decision-Making Process9.2.2.1. Cognitive responses9.2.2.2. Emotional responses9.2.2.3. Choice set formation9.2.2.4. Aspirations and stress9.2.2.5. Habit formation9.2.2.6. Short-term dynamics9.2.2.7. Long-term dynamics9.2.3. Updating Phase9.3. Numerical Simulations9.3.1. Simulation Settings9.3.2. Basic Case Results9.3.3. Effect of Memory-Activation Parameters9.3.3.1. Effect of λ2 parameter9.3.3.2. Effect of γ parameter9.3.4. Effect of Emotion-Related Parameters9.3.4.1. Effect of α2 parameter9.3.4.2. Effect of α2 parameter9.4. Conclusions and DiscussionChapter 10 Multidimensional Travel Decision-Making: Descriptive Behavioural Theory and Agent-Based Models10.1. Background10.2. Theory and Models10.2.1. Modelling Imperfect Knowledge10.2.2. Modelling Multidimensional Search10.2.3. Search Rules and Decision Rules10.2.4. Empirical Data Collection10.3. Simulation Results10.4. Discussion and ConclusionChapter 11 Prospect Theory and its Applications to the Modelling of Travel Choice11.1. Introduction11.2. Making Travel Choices under Risk: The Assumptions of Expected Utility Theory (EUT) and Prospect Theory (PT)11.3. Cumulative Prospect Theory (CPT)11.4. Numeric Example11.5. Incorporating Prospect Theory in Travel Choice Modelling – Application Areas and Evidence11.6. Prospect Theory and Behavioural Change11.7. Shortcomings and Limitations of Prospect Theory in Modelling Travel Behaviour11.8. Summary and ConclusionsAbout the Authors
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