Exploring Heterogeneity In Attribute Processing Strategies: Use Of Hybrid Random Utility Maximization-Random Regret Minimization (Rum-Rrm) Models In A Discrete Choice Experiment (Dce)
نویسندگان
چکیده
منابع مشابه
Random Covariance Heterogeneity in Discrete Choice Models
In this paper, we extend the standard discrete choice modelling framework by allowing for random variation in the substitution patterns between alternatives across respondents, leading to increased model flexibility. The paper shows how such a Mixed Covariance model can be specified either with purely random variation or with a mixture between random and deterministic variation. Additionally, t...
متن کاملFuzzy Random Utility Choice Models: The Case of Telecommuting Suitability
Random utility models have been widely used in many diverse fields. Considering utility as a random variable opened many new analytical doors to researchers in explaining behavioral phenomena. Introducing and incorporating the random error term into the utility function had several reasons, including accounting for unobserved variables. This paper incorporates fuzziness into random utility mode...
متن کاملBridging Utility Maximization and Regret Minimization
We relate the strategy sets that a player ends up with after refining his own strategies according to two very different models of rationality: namely, utility maximization and regret minimization. ar X iv :1 40 3. 63 94 v1 [ cs .G T ] 2 5 M ar 2 01 4
متن کاملThe role of regret minimisation in lifestyle choices affecting the risk of coronary heart disease.
This paper introduces the discrete choice model-paradigm of Random Regret Minimisation (RRM) to the field of health economics. The RRM is a regret-based model that explores a driver of choice different from the traditional utility-based Random Utility Maximisation (RUM). The RRM approach is based on the idea that, when choosing, individuals aim to minimise their regret-regret being defined as w...
متن کاملSampling of Alternatives in Random Regret Minimization Models
Sampling of alternatives is often required in discrete choice models to reduce the computational burden and to avoid describing a large number of attributes. This approach has been used in many areas, including modeling of route choice, vehicle ownership, trip destination, residential location, and activity scheduling. The need for sampling of alternatives is accentuated for Random Regret Minim...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Value in Health
سال: 2015
ISSN: 1098-3015
DOI: 10.1016/j.jval.2015.03.205