2014
DOI: 10.1016/j.aap.2014.08.004
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Prospect theory based estimation of drivers’ risk attitudes in route choice behaviors

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Cited by 55 publications
(29 citation statements)
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“…first studied the parameters using Certainty Equivalent (CE) and obtained the original parameters estimation results of α � β � 0.88, λ � 2.25, c � 0.61, and δ � 0.69. For several decades, a large number of researchers applied the estimation results on the study of travel route choice [7,9,10], mode choice [11][12][13], departure time, and network equilibrium [14][15][16].…”
Section: Parameters Estimation Of Cpt Kahneman and Tverskymentioning
confidence: 99%
“…first studied the parameters using Certainty Equivalent (CE) and obtained the original parameters estimation results of α � β � 0.88, λ � 2.25, c � 0.61, and δ � 0.69. For several decades, a large number of researchers applied the estimation results on the study of travel route choice [7,9,10], mode choice [11][12][13], departure time, and network equilibrium [14][15][16].…”
Section: Parameters Estimation Of Cpt Kahneman and Tverskymentioning
confidence: 99%
“…To highlight the importance of decision makers' psychological behavior and different emergency situations that need to be dealt with by devising different solutions, several important studies in the literature are notable that are related to our research (Fan et al 2012;Shu 2012;Liu et al 2014;Zhou et al 2014;Qian et al 2015;Wang et al 2015;Yu et al 2015). These studies have addressed EDM problems from different aspects.…”
Section: Prospect Theorymentioning
confidence: 99%
“…However, they dealt with the EDM problems by considering only one situation to select the best alternative. Shu (2012), Zhou et al (2014), Qian et al (2015), and Yu et al (2015) considered the problems regarding different situations in EDM but neglected decision makers' psychological behavior in the decision making process. (1) Framework definition: the notations and terminology used in the proposed method are defined.…”
Section: Prospect Theorymentioning
confidence: 99%
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“…Traveler evaluates the routes by individual experience, cognition, and attitudes which do not be considered in the EUT and RUT models. Hence, many alternative theories are proposed, for example, prospect theory (PT), 16,17 cumulative prospect theory (CPT), 18,19 rankdependent expected theory, 20,21 regret theory, 22,23 behavioral portfolio theory 24,25 and so on. Due to the prevalence in choice behavior, bounded rationality has been studied extensively in economics and psychology.…”
Section: Introductionmentioning
confidence: 99%