Author ' s personal copy Modeling heterogeneous risk-taking behavior in route choice : A stochastic dominance approach

@inproceedings{Wu2011AuthorS,
  title={Author ' s personal copy Modeling heterogeneous risk-taking behavior in route choice : A stochastic dominance approach},
  author={Xing Wu and Yu Nie},
  year={2011}
}
This paper proposes a unified approach to modeling heterogonous risk-taking behavior in route choice based on the theory of stochastic dominance (SD). Specifically, the first-, second-, and third-order stochastic dominance (FSD, SSD, TSD) are respectively linked to insatiability, risk-aversion and ruin-aversion within the framework of utility maximization… CONTINUE READING