Route choice decision under uncertainty

The Effect Of Salvage Market On Strategic Technology Choice And Capacity Investment Decision Of Firm Under Demand Uncertainty

The Impact of Travel Time Information on Travellers' Learning under Uncertainty

In this work, route-choice simulations and laboratory experiments were conducted in order to evaluate the effect of feedback mechanism on decision-making under uncertainty, with and without provided information about travel times. We discuss the prediction of travellers' response to uncertainty in two route-choice situations. In the first situation travellers are faced with a route-choice probl...

Rational Choice Theory: A Cultural Reconsideration

Economists have heralded the formulation of the expected utility theorem as a universal method of choice under uncertainty. In their seminal paper, Stigler and Becker (Stigler & Becker, 1977) declared that “human behavior can be explained by a generalized calculus of utility-maximizing behavior” (p.76). The universality of the rational choice theory has been widely criticized by psychologists, ...

Hedonic Pricing under Uncertainty: A Theoretical Consumer Behavior Model

A model of consumer behavior has been formulated by using an additive utility function and the hedonic pricing approach, in a virtual market. Since, there is a time lag between ordering and purchasing products (goods and services) online and receiving them, it means the consumer makes decision under uncertainty. The level of satisfaction with products with distinctive characteristics is describ...

Pedestrian route-choice and activity scheduling theory and models

Among the most interesting and challenging theoretical and practical problems in describing pedestrians behavior are route choice and activity scheduling. Compared to other modes of transport, a characteristic feature of pedestrian route choice is that routes are continuous trajectories in time and space: since a pedestrian chooses a route from an infinite set of alternatives, dedicated theorie...