Private owners’ propensity to engage in shared parking schemes under uncertainty: comparison of alternate hybrid expected utility-regret-rejoice choice models

Figures & data

Table 1. Profile of the respondents.

	Characteristic	Level	Frequency	%
Socio-demographic characteristics	Gender	Male	302	50
		Female	302	50
	Age	≤30	130	21.5
		30–40	222	36.8
		>40	252	41.7
	Education level	High school or below	310	51.3
		Bachelor degree or above	294	48.7
	Monthly salary	Low	199	32.9
		Middle	280	46.4
		High	125	20.7
	Age of the youngest child	Have no child	88	14.6
		0–5 years old	144	23.8
		>5 years old	372	61.6

Table 2. Attributes and attribute levels.

	Attributes	Levels
Context variables	Percentage community residents sharing their parking space	0%
		25%
		50%
		75%
	Percentage friends sharing their parking space	0%
		25%
		50%
		75%
	Percentage coworkers sharing their parking space	0%
		25%
		50%
		75%
	Percentage relatives sharing their parking space	0%
		25%
		50%
		75%
	Platform fee (percentage of the fees paid by users)	0%
		15%
		30%
		45%
	Government’s role	Do nothing
		Encouragement
	Media’s attention	Few advertisements
		Many advertisements
Fixed mode	Contract period	3 months
		6 months
		9 months
		12 months
	Revenues from sharing parking	20	60	100	140	180
		120	160	200	240	280
		220	260	300	340	380
		320	360	400	440	480
	Corresponding probabilities of revenues	20%	20%	20%	20%	20%
		10%	20%	40%	20%	10%
		5%	15%	60%	15%	5%
		0%	10%	80%	10%	0%
Flexible mode	Revenues from shared parking	20	60	100	140	180
		120	160	200	240	280
		220	260	300	340	380
		320	360	400	440	480
	Corresponding probabilities of revenues	20%	20%	20%	20%	20%
		10%	20%	40%	20%	10%
		5%	15%	60%	15%	5%
		0%	10%	80%	10%	0%

Figure 1. A screenshot of an example choice task.

Figure 2. Graphical representation of the four regret-rejoice functions.

Table 3. Estimation results of the REUM, RRM, and hybrid expected utility-regret models.

		REUM		RRM		Hybrid expected utility-regret model
Variables	Level	Parameter	p-Value	Parameter	p-Value	Parameter	p-Value
Percentage of community residents sharing their parking space	0%	−0.454***	0.000	−0.449***	0.000	−0.446***	0.000
	25%	0.082	0.317	0.096	0.292	0.092	0.295
	50%	0.060	-	0.053	-	0.065	-
	75%	0.312***	0.000	0.300***	0.000	0.289***	0.000
Percentage of friends sharing their parking space	0%	−0.325***	0.000	−0.304***	0.001	−0.320***	0.000
	25%	−0.023	0.733	−0.024	0.697	−0.025	0.675
	50%	0.079	-	0.080	-	0.083	-
	75%	0.269***	0.001	0.248**	0.006	0.262**	0.002
Percentage of coworkers sharing their parking space	0%	−0.185**	0.024	−0.174**	0.031	−0.180**	0.026
	25%	−0.124	0.130	−0.118	0.183	−0.121	0.138
	50%	0.079	-	0.071	-	0.063	-
	75%	0.230**	0.031	0.221**	0.044	0.238**	0.028
Percentage of relatives sharing their parking space	0%	−0.077	0.116	−0.083	0.101	−0.084*	0.096
	25%	−0.089	0.335	−0.086	0.329	−0.091	0.319
	50%	−0.029	-	−0.021	-	−0.026	-
	75%	0.195**	0.022	0.190**	0.027	0.201**	0.018
Platform fee (percentage of shared parking revenues)	0	0.191**	0.028	0.187**	0.031	0.203**	0.021
	15%	0.103	0.261	0.102	0.302	0.101	0.220
	30%	−0.066	-	−0.062	-	−0.069	-
	45%	−0.228**	0.031	−0.227*	0.052	−0.235**	0.028
Government’s role	Do nothing	−0.238***	0.000	−0.233***	0.000	−0.253***	0.000
	Support	0.238	-	0.233	-	0.253	-
Media’s attention	Few advertisements	−0.195***	0.001	−0.192***	0.002	−0.193***	0.002
	Many advertisements	0.195	-	0.192	-	0.193	-
Constant-fixed mode		−2.177***	0.000	0.061	0.479	−1.828***	0.000
Age-fixed mode	<30	0.519***	0.000	0.485***	0.000	0.453***	0.001
	30–40	−0.132	0.161	−0.120	0.184	−0.114	0.202
	>40	−0.387	-	−0.365	-	−0.339	-
Gender-fixed mode	Male	−0.110*	0.067	−0.112*	0.056	−0.119**	0.041
	Female	0.110	-	0.112	-	0.119	-
Individual salary-fixed mode	Low	0.639***	0.000	0.600***	0.000	0.628***	0.002
	Medium	0.087	0.537	0.060	0.642	0.082	0.556
	High	−0.726	-	−0.660	-	−0.710	-
Age of the youngest child-fixed mode	Have no child	−0.396**	0.024	−0.393**	0.025	−0.374**	0.032
	Between 0 and 5 years old	0.131	0.141	0.112	0.188	0.102	0.189
	>5 years old	0.265	-	0.281	-	0.272	-
Revenues from sharing parking-fixed mode		0.007***	0.000	-	-	0.006***	0.000
Contract period-fixed mode	3 months	0.064	0.398	0.048	0.463	0.057	0.375
	6 months	−0.091	0.267	−0.096	0.232	−0.079	0.168
	9 months	0.045	0.553	0.084	0.599	0.046	0.512
	12 months	−0.028	-	−0.036	-	−0.023	-
Constant-flexible mode		−2.036***	0.000	−0.008	0.926	−1.689***	0.000
Age-flexible mode	<30	0.712***	0.000	0.734***	0.001	0.683***	0.001
	30–40	−0.118	0.264	−0.131	0.192	−0.113	0.283
	>40	−0.594	-	−0.603	-	−0.570	-
Gender-flexible mode	Male	0.051	0.368	0.047	0.395	0.048	0.486
	Female	−0.051	-	−0.047	-	−0.048	-
Individual salary-flexible mode	Low	0.712***	0.000	0.682***	0.001	0.720***	0.000
	Medium	0.125	0.211	0.146	0.298	0.164	0.233
	High	−0.837	-	−0.828	-	−0.884	-
Age of the youngest child-flexible mode	Have no child	−0.249	0.100	−0.225	0.109	−0.253	0.097
	Between 0 and 5 years old	−0.177*	0.093	−0.194*	0.071	−0.172*	0.096
	>5 years old	0.426	-	0.429	-	0.425	-
Revenues from sharing parking-flexible mode		0.006***	0.000	-	-	0.005***	0.000
Regret ${\beta }^g$		-	-	0.007***	0.000	0.002**	0.012
LL(0)		−2654.3		−2654.3		−2654.3
LL($\beta$)		−2303.5		−2358.7		−2298.0
$Rh{o}^2$		0.132		0.111		0.134

*** at the 1% level of confidence, ** at the 5% level of confidence, and * at the 10% level of confidence.

Table 4. Estimation results of the hybrid expected utility-regret-rejoice model.

	Exponential function		Logarithmic function		Generalized logarithmic function		Linear split function
	Parameter	p-Value	Parameter	p-Value	Parameter	p-Value	Parameter	p-Value
${\beta }^g$	-	-	-	-	-	-	0.001	0.492
${\beta }^j$	-	-	-	-		-	0.003**	0.012
${\beta }^{gj}$	0.001***	0.001	0.003***	0.001	0.003***	0.002	-	-
$\delta$	-	-	-	-	2.076**	0.023	-	-
LL(0)	−2654.3		−2654.3		−2654.3		−2654.3
LL($\beta$)	−2295.4		−2295.2		−2295.1		−2294.0
$Rh{o}^2$	0.135		0.135		0.135		0.136

*** at the 1% level of confidence and ** at the 5% level of confidence.

Table 5. Estimation results of the regret-rejoice function considering symmetric and asymmetric perception.

	Regret-rejoice function considering perception (Symmetry)		Regret-rejoice function considering perception (Asymmetry)
	Parameter	Prob.|z|>Z*	Parameter	Prob.|z|>Z*
${\beta }^j$	0.007***	0.004	0.010*	0.083
${\eta }^j$	0.010**	0.040	-	-
${\psi }^j$	4.382***	0.009	-	-
${\tau }^j$	-	-	−0.003***	0.000
${\sigma }^j$	-	-	794***	0.000
${\beta }^g$	0.009*	0.066	0.010***	0.000
${\eta }^g$	0.009***	0.000	-	-
${\psi }^g$	0.786*	0.066	-	-
${\tau }^g$	-	-	0.013***	0.000
${\sigma }^g$	-	-	104.6***	0.000
LL(0)	−2654.3		−2654.3
LL($\beta$)	−2270.4		−2272.1
$Rh{o}^2$	0.145		0.144

*** at the 1% level of confidence, ** at the 5% level of confidence, and * at the 10% level of confidence

Figure 3. The number of correctly predicted cases for 10-fold cross-validation test.

Table 6. The average number of correctly predicted cases among different models.

Average number of accurate predictions	REUM	RRM	Hybrid expected utility-regret model	Exponential function	Logarithmic function
	129.6	122.8	130.5	131.3	131.5
	Generalized logarithmic function	Linear split Function	Regret-rejoice function considering perception (Symmetry)	Regret-rejoice function considering perception (Asymmetry)
	131.8	132	134.5	133.4