The Heterogeneous Heuristic Modeling Framework for Inferring Decision Processes

Bounded Rational Choice Behaviour: Applications in Transport

ISBN: 978-1-78441-072-8, eISBN: 978-1-78441-071-1

Publication date: 31 January 2015

Abstract

Originality

The proposed modeling framework bridges the long-existing contradicting approaches in the field of decision modeling, namely the rational approach and the bounded rational approach, by proving that non-compensatory decision heuristics can be inferred from compensatory model formulations with discretized information representations and decision criteria assumed. It also incorporates a heuristic choice part into the decision processes in the form of latent-class specifications and shows the viability of the new modeling framework.

Keywords

Citation

Zhu, W. and Timmermans, H. (2015), "The Heterogeneous Heuristic Modeling Framework for Inferring Decision Processes", Rasouli, S. and Timmermans, H. (Ed.) Bounded Rational Choice Behaviour: Applications in Transport, Emerald Group Publishing Limited, Bingley, pp. 95-113. https://doi.org/10.1108/978-1-78441-072-820151008

Publisher

:

Emerald Group Publishing Limited

Copyright © 2015 Emerald Group Publishing Limited

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