TY - JOUR
T1 - Integrating attribute non-attendance and value learning with risk attitudes and perceptual conditioning
AU - Balbontin, Camila
AU - Hensher, David A.
AU - Collins, Andrew T.
N1 - Funding Information:
This research was partially funded by the CONICYT PAI/INDUSTRIA 79090016. The research contribution is linked to an Australian Research Council grant DP140100909 (2014-2016) on ‘Integrating Attribute Decision Heuristics into Travel Choice Models that accommodate Risk Attitude and Perceptual Conditioning’. We thank the editor-in-chief and referees for their detailed comments which have materially improved this paper.
Publisher Copyright:
© 2016 Elsevier Ltd
PY - 2017/1/1
Y1 - 2017/1/1
N2 - This study integrates multiple decision process strategies (Attribute Non-Attendance and Value Learning) with risk attitudes, perceptual conditioning and overt experience, which, to the best of our knowledge, has not been done before. We propose a way to include multiple heuristics as an alternative to current dominant paradigms, which supports a behavioural view that more than one heuristic simultaneously is at play in attribute and alternative processing. Our results show that including multiple decision process strategies, and integrating of all these components, significantly improves the model's performance and enhances our understanding of how preferences are made.
AB - This study integrates multiple decision process strategies (Attribute Non-Attendance and Value Learning) with risk attitudes, perceptual conditioning and overt experience, which, to the best of our knowledge, has not been done before. We propose a way to include multiple heuristics as an alternative to current dominant paradigms, which supports a behavioural view that more than one heuristic simultaneously is at play in attribute and alternative processing. Our results show that including multiple decision process strategies, and integrating of all these components, significantly improves the model's performance and enhances our understanding of how preferences are made.
KW - Behavioural refinements
KW - Combined heuristics approach
KW - Multiple heuristics
KW - Overt experience
KW - Perceptual conditioning
KW - Probabilistic decision process
KW - Risk attitudes
UR - http://www.scopus.com/inward/record.url?scp=85000932372&partnerID=8YFLogxK
U2 - 10.1016/j.tre.2016.11.002
DO - 10.1016/j.tre.2016.11.002
M3 - Article
AN - SCOPUS:85000932372
SN - 1366-5545
VL - 97
SP - 172
EP - 191
JO - Transportation Research Part E: Logistics and Transportation Review
JF - Transportation Research Part E: Logistics and Transportation Review
ER -