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Home arrow Economics arrow Bounded rational choice behaviour

A short course of lectures
«Bounded rational choice behaviour»

Measuring Mental RepresentationsModelling Imperfect KnowledgeDeriving decision heuristicsData Collection and SampleDesign of the ExperimentsAnalysisDiscussionActivity Profiles and Universal Choice SetEffect of Emotion-Related ParametersExampleMethodologyGeneral FormulationEffect of Memory-Activation ParametersFrameworkAlternative-Oriented Relative UtilityShort-term dynamicsDataApplicationsSearch Rules and Decision RulesEffect of α2 parameterNumeric ExampleModel Comparison: Accuracy ResultsEndogenous Modelling of Choice Set GenerationUpdating PhaseReflecting the Non-linearity of Context DependencyRepresenting Quasi-Nested Choice StructureCase StudyHabit formationPreference structureThe Heterogeneous Heuristic Modeling Framework for Inferring Decision ProcessesBayesian Network Classifiers: Problem FormulationEntering EvidencesDynamic Travel Mode ChoiceSimulation SettingsMixture ModelSatisficing DecisionBayesian NetworksModel StructuresThe Generalised RRM ModelTheory and ConceptsEmotional responsesModel specificationFurther ImprovementsConcluding RemarksSolution MethodChoice Set GenerationTravel Information and Travel BehaviourInvestigating Situational Differences in Individuals' Mental Representations of Activity-Travel Decisions: Progress and Empirical Illustration for the Impact of Online AlternativesSolution Existence and UniquenessBoundedly Rational Dynamic user Equilibrium Route and Departure Time Choice AssignmentDecision Theory in AB ModelsRisk perceptionNon-Optimal Decision MechanismsDecision Theory in Activity-Based ModelsEmpirical AnalysisMultidimensional Travel Decision-Making: Descriptive Behavioural Theory and Agent-Based ModelsShortcomings and Limitations of Prospect Theory in Modelling Travel BehaviourConsidering a Subset of Choice AlternativesSimulation ResultsNonlinear Complementarity Problem (NCP) FormulationData and Model SpecificationsModelling ImprovementsThe ModelEffect of α2 parameterBounded Rationality in Dynamic Traffic AssignmentDataStructural LearningMotivationAspirations and stressThe Go-Home Decision BackgroundBoundedly Rational Dynamic User Equilibrium Route Choice AssignmentRelative Utility ModellingModel Comparison in Terms of Model and Individual Rule ComplexityTowards A New Integrated ClassifierIndifference between Small Differences in Utility or Attribute ValuesWardrop's First Principle and its Dynamic ExtensionsTravel Flow ComponentTrip Matrix Level AnalysisTolerance-Based Dynamic User Optimal PrincipleTowards a Novel Classifier for the Representation of Bounded Rationality in Models of Travel DemandExtension to Comparative DecisionThe Direction Choice DecisionBounded Rationality in Traffic AssignmentProspect Theory and Behavioural ChangeUtility Maximisation and Regret Minimisation: A Mixture of a GeneralisationResultsResultsResultsResultsConsidering a Subset of Influential AttributesChoice set formationThe content of respondents' mental representationsGeneral ConceptsMental effortEffect of λ2 parameterDynamic Traffic AssignmentProspect Theory and its Applications to the Modelling of Travel ChoiceCognitive responsesData and Design of the ExperimentsBasic Case ResultsPrefaceLong-term dynamicsCumulative Prospect Theory (CPT)Modelling Multidimensional SearchThe Influence of Varying Information Load on Inferred Attribute Non-AttendanceModel specificationParameter LearningMaking Travel Choices under Risk: The Assumptions of Expected Utility Theory (EUT) and Prospect Theory (PT)Models of Bounded Rationality under CertaintyApplicationsMajor Findings of Existing StudiesChoices of Destinations and Stop PatternsChoice Task and Experimental DesignEffect of γ parameterEmpirical Data CollectionIncorporating Prospect Theory in Travel Choice Modelling – Application Areas and EvidenceChoices of Packaged ToursDecision-Making ProcessTheory and ModelsAbout the AuthorsModeling FrameworkResultsMental Representations of Complex Decision ProblemsNumerical SimulationsActivity Pattern Level AnalysisIncorporating Bounded Rationality in a Model of Endogenous Dynamics of Activity-Travel BehaviourRelative Utility ModellingExpected outcomeThe complexity of respondents' mental representationsModel EstimationChoice of heuristicsProblem Definition
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