Publication Cover
Transportation Letters
The International Journal of Transportation Research
Volume 12, 2020 - Issue 8
817
Views
4
CrossRef citations to date
0
Altmetric
Research Article

Investigating travelers’ heterogeneous attitudes toward losses: insights from a stated preference experiment

ORCID Icon &

References

  • Abdellaoui, M., H. Bleichrodt, and C. Paraschiv. 2007. “Loss Aversion under Prospect Theory: A Parameter-Free Measurement.” Management Science 53 (10): 1659–1674. doi:10.1287/mnsc.1070.0711.
  • Bekhor, S., C. G. Chorus, and T. Toledo. 2012. “Stochastic User Equilibrium for Route Choice Model Based on Random Regret Minimization.” Transportation Research Record 2284: 100–108. doi:10.3141/2284-12.
  • Ben-Akiva, M., D. McFadden, K. E. Train, J. L. Walker, C. R. Bhat, M. Bierlaire, D. Bolduc et al. 2002. “Hybrid Choice Models: Progress and Challenges.” Marketing Letters 13 (3): 163–175. DOI:10.1023/A:1020254301302.
  • Ben-Akiva, M., and S. R. Lerman. 1985. Discrete Choice Analysis: Theory and Application to Travel Demand. MIT Press, Cambridge, USA.
  • Bhat, C. R. 2003. “Simulation Estimation of Mixed Discrete Choice Models Using Randomized and Scrambled Halton Sequences.” Transportation Research Part B: Methodological 37 (9): 837–855. doi:10.1016/S0191-2615(02)00090-5.
  • Braaten, E., and G. Weller. 1979. “An Improved Low-Discrepancy Sequence for Multidimensional Quasi-Monte Carlo Integration.” Journal of Computational Physics 33 (2): 249–258. doi:10.1016/0021-9991(79)90019-6.
  • ChoiceMetrics. 2014. Ngene 1.1.2 User Manual & Reference Guide: The Cutting Edge in Experimental Design, www.choice-metrics.com .
  • Chorus, C. G. 2010. “A New Model of Random Regret Minimization.” European Journal of Transport and Infrastructure Research 10 (2): 181–196.
  • Chorus, C. G. 2014. “A Generalized Random Regret Minimization Model.” Transportation Research Part B: Methodological 68: 224–238. doi:10.1016/j.trb.2014.06.009.
  • Chorus, C. G., T. A. Arentze, and J. P. T. Harry. 2008. “A Random Regret-Minimization Model of Travel Choice.” Transportation Research Part B: Methodological 42 (1): 1–18. doi:10.1016/j.trb.2007.05.004.
  • Connors, R. D., and A. Sumalee. 2009. “A Network Equilibrium Model with Travellers’ Perception of Stochastic Travel Times.” Transportation Research Part B: Methodological 43 (6): 614–624. doi:10.1016/j.trb.2008.12.002.
  • Cranenburgh, S. V., C. A. Guevara, and C. G. Chorus. 2015. “New Insights on Random Regret Minimization Models.” Transportation Research Part A: Policy and Practice 74: 91–109.
  • Engelhardt, G. V. 2003. “Nominal Loss Aversion, Housing Equity Constraints, and Household Mobility: Evidence from the United States.” Journal of Urban Economics 53 (1): 171–195. doi:10.1016/S0094-1190(02)00511-9.
  • Feo-Valero, M., A. I. Arencibia, and R. Concepción. 2016. “Analyzing Discrepancies between Willingness to Pay and Willingness to Accept for Freight Transport Attributes.” Transportation Research Part E: Logistics and Transportation Review 89: 151–164. doi:10.1016/j.tre.2016.03.004.
  • Genesove, D., and C. Mayer. 2001. “Loss Aversion and Seller Behavior: Evidence from the Housing Market.” The Quarterly Journal of Economics 116 (4): 1233–1260. doi:10.1162/003355301753265561.
  • Hardie, B. G. S., E. J. Johnson, and P. S. Fader. 1993. “Modeling Loss Aversion and Reference Dependence Effects on Brand Choice.” Marketing Science 12 (4): 378–394. doi:10.1287/mksc.12.4.378.
  • Henningsen, A., and O. Toomet. 2011. “MaxLik: A Package for Maximum Likelihood Estimation in R.” Computational Statistics 26 (3): 443–458. doi:10.1007/s00180-010-0217-1.
  • Hensher, D. A., J. M. Rose, and W. H. Greene. 2015. Applied Choice Analysis. 2nd ed. Cambridge University Press, Cambridge, UK.
  • Hess, S., J. M. Rose, and D. A. Hensher. 2008. “Asymmetric Preference Formation in Willingness to Pay Estimates in Discrete Choice Models.” Transportation Research Part E: Logistics and Transportation Review 44 (5): 847–863. doi:10.1016/j.tre.2007.06.002.
  • Hjorth, K. 2009. “Determinants Of The Degree Of Loss Aversion.” In Paper Selected for Presentation at The International Choice Modelling Conference 1.
  • Jang, S., S. Rasouli, and J. P. T. Harry. 2017. “Incorporating Psycho-Physical Mapping into Random Regret Choice Models: Model Specifications and Empirical Performance Assessments.” Transportation 44 (5): 999–1019. doi:10.1007/s11116-016-9691-9.
  • Johnson, E. J., S. Gächter, and A. Herrmann. 2006. “Exploring the Nature of Loss Aversion.” IZA Discussion Paper No. 2015.
  • Kahneman, D., and A. Tversky. 1979. “Prospect Theory: An Analysis of Decision under Risk.” Econometrica 47 (2): 263–292. doi:10.2307/1914185.
  • Kim, J., S. Rasouli, and J. P. T. Harry. 2014. “Hybrid Choice Models: Principles and Recent Progress Incorporating Social Influence and Nonlinear Utility Functions.” Procedia Environmental Sciences 22: 20–34. doi:10.1016/j.proenv.2014.11.003.
  • Louviere, J. J., D. A. Hensher, and J. Swait. 2000. Stated Choice Methods: Analysis and Applications. Cambridge University Press, Cambridge, UK.
  • Masiero, L., and D. A. Hensher. 2010. “Analyzing Loss Aversion and Diminishing Sensitivity in a Freight Transport Stated Choice Experiment.” Transportation Research Part A: Policy and Practice 44 (5): 349–358.
  • Nicolau, J. L. 2011. “Differentiated Price Loss Aversion in Destination Choice: The Effect of Tourists’ Cultural Interest.” Tourism Management 32 (5): 1186–1195. doi:10.1016/j.tourman.2010.11.002.
  • Nicolau, J. L. 2012. “Asymmetric Tourist Response to Price: Loss Aversion Segmentation.” Journal of Travel Research 51 (5): 568–576. doi:10.1177/0047287511431321.
  • Novemsky, N., and D. Kahneman. 2005. “The Boundaries of Loss Aversion.” Journal of Marketing Research 42 (2): 119–128. doi:10.1509/jmkr.42.2.119.62292.
  • Prato, C. G. 2014. “Expanding the Applicability of Random Regret Minimization for Route Choice Analysis.” Transportation 41 (2): 351–375. doi:10.1007/s11116-013-9489-y.
  • Rasouli, S., and J. P. T. Harry. 2017. “Specification of Regret-Based Models of Choice Behaviour: Formal Analyses and Experimental Design Based Evidence.” Transportation 44 (6): 1555–1576. doi:10.1007/s11116-016-9714-6.
  • Schwanen, T., and D. Ettema. 2009. “Coping with Unreliable Transportation When Collecting Children: Examining Parents’ Behavior with Cumulative Prospect Theory.” Transportation Research Part A: Policy and Practice 43 (5): 511–525.
  • Train, K. E. 2009. Discrete Choice Methods with Simulation. 2nd ed. Cambridge University Press, Cambridge, UK.
  • Tversky, A., and D. Kahneman. 1992. “Advances in Prospect Theory: Cumulative Representation of Uncertainty.” Journal of Risk and Uncertainty 5 (4): 297–323. doi:10.1007/BF00122574.
  • Xu, H., Y. Lou, Y. Yin, and J. Zhou. 2011. “A Prospect-Based User Equilibrium Model with Endogenous Reference Points and Its Application in Congestion Pricing.” Transportation Research Part B: Methodological 45 (2): 311–328. doi:10.1016/j.trb.2010.09.003.