Heterogeneity in commuter departure time decision: a prospect theoretic approach

@article{Senbil2003HeterogeneityIC,
  title={Heterogeneity in commuter departure time decision: a prospect theoretic approach},
  author={Metin Senbil and Ryuichi Kitamura},
  journal={Fourth International Symposium on Uncertainty Modeling and Analysis, 2003. ISUMA 2003.},
  year={2003},
  pages={15-20}
}
We investigate the applicability of prospect theory in the context of morning commutes. We extend the analysis adopted in our previous study to account for both observed and unobserved heterogeneity across commuters. Two decision frames with multiple reference points and a maximum satisfaction point (preferred arrival time, PAT) are assumed to exist for commuters. One of the decision frames involves a quasigain region where commuters value gains as if they are losses. This decision frame is… CONTINUE READING

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Reference Points in Commuter Departure Time Decisions: A Test of Alternative Decision Frames, Presented at EC Workshop: Behavioral Responses to ITS, Eindhoven, Netherlands

M. Senbil, R. Kitamura
  • 2003
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