Establishing equivalence between nested logit and hierarchical elimination-by-aspects choice models

The advantages of random utility models (RUM) - and, in particular of generalised extreme value (GEV) models to transport researchers are explained. A parallel development to GEV modelling, however, has been the accumulation of a substantial literature in the decision sciences suggesting that individual choice behaviour may not necessarily be consistent with utility maximisation. This literature has identified, under experimental conditions, behavioural phenomena that appear to violate one or more of the micro-economic axioms. Such violations have led to the advancement of alternative choice models outside of RUM. The transport community appears to have shown recurrent interest in non-RUM choice models, but relatively few studies investigating or applying such models have materialised. This paper addresses the call for comparative analysis of RUM and non-RUM choice models. It is shown that a discrete choice model derived from non-RUM can be RUM-consistent, and vice versa, raising the interesting question of whether the dichotomy between RUM and non-RUM really matters. The answer to this question depends, to a large extent, on the scientific philosophy adopted. From the instrumentalist standpoint, which appears to have been adopted by most travel behaviour modellers, the answer essentially comes down to one of whether predictive accuracy is affected. For the covering abstract see ITRD E126595.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/isbn/0860503429
• Authors:
  • BATLEY, R
  • DALY, A
• Publication Date: 2003

Language

• English

Media Info

• Pagination: 23pp
• Monograph Title: Risk aversion and route choice decisions
• Serial:
  • PROCEEDINGS OF THE EUROPEAN TRANSPORT CONFERENCE (ETC) 2003 HELD 8-10 OCTOBER 2003, STRASBOURG, FRANCE
  • Publisher: Association for European Transport (AET)
  • ISSN: 1474-9122

Subject/Index Terms

• TRT Terms: Alternatives analysis; Behavior; Conferences; Decision making; Forecasting; Mathematical models; Transportation
• ITRD Terms: 9000: Alternative; 9001: Behaviour; 8525: Conference; 2248: Decision process; 132: Forecast; 6473: Mathematical model; 1155: Transport
• Subject Areas: Operations and Traffic Management; Transportation (General); I71: Traffic Theory;

Filing Info

• Accession Number: 01013763
• Record Type: Publication
• Source Agency: Transport Research Laboratory
• ISBN: 0-86050-342-9
• Files: ITRD
• Created Date: Dec 22 2005 11:20AM