Logsums for utility-maximizers and regret-minimizers, and their relation with desirability and satisfaction
This paper studies to what extent the Logsum-measure of user benefits relates to travelers’ perceptions of choice set-desirability and choice-satisfaction. Knowing these relations is important since researchers have recently started to analyze and interpret user benefits in general – and Logsums in specific – in terms of these more behaviorally oriented notions, rather than in terms of expected utility. Participants to a stated route choice experiment were asked to indicate, after each choice made, to what extent they considered the choice set to be desirable, or to what extent they were satisfied with the chosen alternative. These measurements were correlated with Logsums that were computed for each choice situation. In addition, the paper derives a regret-based Logsum (which gives the expected regret of a choice situation) and presents a comparison with its utilitarian counterpart. Also for this regret-based Logsum, correlations with desirability- and satisfaction-ratings are computed. As a general finding, it appears that all computed correlations are rather weak. This suggests that, at least in the context of our data, the utility-based Logsum and its regret-based counterpart appear to have only a fairly weak connection with the behavioral notions of choice set-desirability and choice-satisfaction.
Volume (Year): 46 (2012)
Issue (Month): 7 ()
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/547/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hans-Ulrich Derlien & B. Guy Peters, 2008. "Introduction," Chapters, in: The State at Work, Volume 2, chapter 1 Edward Elgar Publishing.
- Abou-Zeid, Maya & Ben-Akiva, Moshe, 2011. "The effect of social comparisons on commute well-being," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(4), pages 345-361, May.
- Ettema, Dick & Gärling, Tommy & Olsson, Lars E. & Friman, Margareta, 2010. "Out-of-home activities, daily travel, and subjective well-being," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(9), pages 723-732, November.
- Caspar Chorus, 2011. "Random Regret Minimization: An Overview of Model Properties and Empirical Evidence," Transport Reviews, Taylor & Francis Journals, vol. 32(1), pages 75-92, July.
- Cecilia Bergstad & Amelie Gamble & Tommy Gärling & Olle Hagman & Merritt Polk & Dick Ettema & Margareta Friman & Lars Olsson, 2011. "Subjective well-being related to satisfaction with daily travel," Transportation, Springer, vol. 38(1), pages 1-15, January.
- S L Handy & D A Niemeier, 1997. "Measuring accessibility: an exploration of issues and alternatives," Environment and Planning A, Pion Ltd, London, vol. 29(7), pages 1175-1194, July.
- Kockelman, Kara Maria & Krishnamurthy, Sriram, 2004. "A new approach for travel demand modeling: linking Roy's Identity to discrete choice," Transportation Research Part B: Methodological, Elsevier, vol. 38(5), pages 459-475, June.
- Harvey S. Rosen & Kenneth A. Small, 1979.
"Applied Welfare Economics with Discrete Choice Models,"
NBER Working Papers
0319, National Bureau of Economic Research, Inc.
- Small, Kenneth A & Rosen, Harvey S, 1981. "Applied Welfare Economics with Discrete Choice Models," Econometrica, Econometric Society, vol. 49(1), pages 105-30, January.
- Train,Kenneth E., 2009.
"Discrete Choice Methods with Simulation,"
Cambridge University Press, number 9780521747387, December.
- Chorus, Caspar G. & Timmermans, Harry J.P., 2009. "Measuring user benefits of changes in the transport system when traveler awareness is limited," Transportation Research Part A: Policy and Practice, Elsevier, vol. 43(5), pages 536-547, June.
- Dong, Xiaojing & Ben-Akiva, Moshe E. & Bowman, John L. & Walker, Joan L., 2006. "Moving from trip-based to activity-based measures of accessibility," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(2), pages 163-180, February.
- de Jong, Gerard & Daly, Andrew & Pieters, Marits & van der Hoorn, Toon, 2007. "The logsum as an evaluation measure: Review of the literature and new results," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(9), pages 874-889, November.
- Stephane Hess & Amanda Stathopoulos & Andrew Daly, 2012. "Allowing for heterogeneous decision rules in discrete choice models: an approach and four case studies," Transportation, Springer, vol. 39(3), pages 565-591, May.
- Chorus, Caspar G. & Annema, Jan Anne & Mouter, Niek & van Wee, Bert, 2011. "Modeling politicians' preferences for road pricing policies: A regret-based and utilitarian perspective," Transport Policy, Elsevier, vol. 18(6), pages 856-861, November.
- S L Handy & D A Niemeier, 1997. "Measuring Accessibility: An Exploration of Issues and Alternatives," Environment and Planning A, SAGE Publishing, vol. 29(7), pages 1175-1194, July.
- Mara Thiene & Marco Boeri & Caspar Chorus, 2012. "Random Regret Minimization: Exploration of a New Choice Model for Environmental and Resource Economics," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 51(3), pages 413-429, March.
When requesting a correction, please mention this item's handle: RePEc:eee:transa:v:46:y:2012:i:7:p:1003-1012. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.