This paper presents, discusses and tests a Generalized Random Regret Minimization (G-RRM) model. The G-RRM model is created by recasting a fixed constant in the attribute-specific regret functions of the conventional RRM model, into an attribute-specific regret-weight. Given that regret-weights...

This paper presents an alternative to Random Utility-Maximization models of travel choice. Our Random Regret-Minimization model is rooted in Regret Theory and provides several useful features for travel demand analysis. Firstly, it allows for the possibility that choices between travel...

Behavioral models of the perceived value of travel information are developed that take into account satisficing as well as maximizing behavior, and are suitable for the evaluation of information acquisition for alternative generation as well as assessment. This is done by integrating notions of...