Motivated by the notion that consumers' use of the internet creates a wealth of data on information search, we put forward the idea that observed information searches may be used for deriving consumer preferences. First, we derive a theoretical model of consumer behaviour under uncertainty and...

This paper develops new methodological insights on Random Regret Minimization (RRM) models. It starts by showing that the classical RRM model is not scale-invariant, and that – as a result – the degree of regret minimization behavior imposed by the classical RRM model depends crucially on...

This paper focuses on hybrid choice models of the type increasingly being used by travel demand modelers, which include latent perception and attitude related variables. We argue that, contrary to current practice, these models do not support the derivation of policies that aim to change travel...

The aim of this paper is to present and test a crucial building block for a regret minimization based choice set formation model, in that it presents a regret based benefit measure for the value associated with adding an alternative to one׳s choice set. By doing so, the paper contributes to...

Choice modelling is an increasingly important technique for forecasting and valuation, with applications in fields such as transportation, health and environmental economics. For this reason it has attracted attention from leading academics and practitioners and methods have advanced...

Random utility maximisation is the pre-eminent behavioural theory used to model choices. An alternative paradigm, however, is random regret minimisation. While the majority of the literature examines the choices of individuals, this paper compares the choices of groups, as well as individuals,...

This paper presents a utility-based and a regret-based model of consumer preferences for alternative fuel vehicles, based on a large-scale stated choice-experiment held among company car leasers in The Netherlands. Estimation and application of random utility maximization and random regret...

<title>Abstract</title> Rapid technological developments in the field of personal communication services probe visions of a next generation in Advanced Traveller Information Services (ATIS). These technological developments provoke a renewed interest in the use and effect of such next‐generation ATIS among...