This paper presents, discusses and tests a generalized Random Regret Minimization (G-RRM) model. The G-RRM model is … canonical linear-in-parameters Random Utility Maximization (RUM) model, the conventional Random Regret Minimization (RRM) model …

the Random Regret Minimization (RRM). The RRM offers a tractable, regret-based model complementary to the dominant RUM …