Linking the decision process to indicators of real world perceptions in a latent variable latent class approach
An increasing number of choice models models have been proposed to examine respondents' use of heterogeneous decision rules. The focus has been on revealing which paradigm fits best for a given respondent or class of respondents, or for a given choice characteristic. On the other hand, limited effort has gone towards understanding the motivation behind the use of different decision rules. This paper presents a model that creates a link between real world behavioral indicators and the use of decision paradigms in a stated choice context. An empirical application is developed as a latent class mixture between regret minimization and utility maximization where the allocation to a given class is driven in part by a latent variable which also, in a separate measurement model, explains respondents' stated satisfaction with their real world reference commute journey (in terms of differences between experienced and ideal travel performance). Results reveal a linkage between the likely decision rule and the stated satisfaction with the real world commute where the most regret-prone respondents in the sample are more likely to have aligned their real-life commute performance to their aspirational values.
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Supplemental Notes:
- This paper was sponsored by TRB committee ADB40 Transportation Demand Forecasting. Alternate title: Linking Decision Process to Indicators of Real-World Perceptions in a Latent Variable Latent Class Approach
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Corporate Authors:
500 Fifth Street, NW
Washington, DC United States 20001 -
Authors:
- Hess, Stephane
- Stathopoulos, Amanda
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Conference:
- Transportation Research Board 93rd Annual Meeting
- Location: Washington DC
- Date: 2014-1-12 to 2014-1-16
- Date: 2014
Language
- English
Media Info
- Media Type: Digital/other
- Features: Figures; References; Tables;
- Pagination: 15p
- Monograph Title: TRB 93rd Annual Meeting Compendium of Papers
Subject/Index Terms
- TRT Terms: Behavior; Choice models; Commuting; Decision making; Heterogeneity; Perception; Variables
- Subject Areas: Highways; Planning and Forecasting; I72: Traffic and Transport Planning;
Filing Info
- Accession Number: 01520041
- Record Type: Publication
- Report/Paper Numbers: 14-4894
- Files: TRIS, TRB, ATRI
- Created Date: Mar 26 2014 10:13AM