Integrating attribute non-attendance and value learning with risk attitudes and perceptual conditioning

Camila Balbontin, David A. Hensher, Andrew T. Collins

Research output: Contribution to journalArticlepeer-review

15 Scopus citations

Abstract

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.

Original languageEnglish
Pages (from-to)172-191
Number of pages20
JournalTransportation Research Part E: Logistics and Transportation Review
Volume97
DOIs
StatePublished - 1 Jan 2017
Externally publishedYes

Keywords

  • Behavioural refinements
  • Combined heuristics approach
  • Multiple heuristics
  • Overt experience
  • Perceptual conditioning
  • Probabilistic decision process
  • Risk attitudes

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