A rank-dependent utility approach to model intra- and inter-individual heterogeneity in risky choice behaviors

Bouscasse, Hélène (Grenoble Applied Economics Laboratory) ; Lapparent, Matthieu de (Haute école d’ingénierie et de gestion du canton de Vaud, HES-SO // Haute Ecole Spécialisée de Suisse Occidentale)

The objective of this paper is to investigate the intra- and inter-individual heterogeneity of mode2 choice, when travel time is subject to variability. By “inter-individual heterogeneity” is meant that3 people are different in terms of attitude toward risk and have different functional forms for the4 utility function. By “intra-individual heterogeneity” is meant that the behavior may be different5 even when performed by the same individual when faced with a different transport mode. Based6 on RDUT, the paper shows that the probabilities of delay associated to train trips are overweighted7 and the probabilities associated to car trips are underweighted. A latent-class model offers a more8 contrasted view: if, overall, car users do indeed weight differently the probabilities for train and9 car trips, the train users seem to be risk neutral and consider the objective probabilities that are10 presented in the stated preferences survey.11


Conference Type:
full paper
Faculty:
Economie et Services
School:
HEIG-VD
Institute:
IIDE - Institut Interdisciplinaire du Développement de l'Entreprise
Subject(s):
Economie/gestion
Publisher:
Washington, USA, 7-11 January 2018
Date:
2018-01
Washington, USA
7-11 January 2018
Pagination:
22 p.
Published in:
Proceedings of Transportation Research Board Annual Meeting (TRB Annual Meeting)
Appears in Collection:

Note: The status of this file is: restricted


 Record created 2018-10-18, last modified 2019-06-11

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)