Prospect Theory and its Applications to the Modelling of Travel Choice
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 and value
The chapter provides a detailed account of the design and results of accumulated research in travel behaviour research that is based on Prospect Theory’s observations, insights and formulations. The potential of Prospect Theory for particular decision-making in travel behaviour research is articulated, main findings are presented and discussed, and limitations are identified, leading to further research needs.
Keywords
Citation
Avineri, E. and Ben-Elia, E. (2015), "Prospect Theory and its Applications to the Modelling of Travel Choice", Rasouli, S. and Timmermans, H. (Ed.) Bounded Rational Choice Behaviour: Applications in Transport, Emerald Group Publishing Limited, Bingley, pp. 233-256. https://doi.org/10.1108/978-1-78441-072-820151015
Publisher
:Emerald Group Publishing Limited
Copyright © 2015 Emerald Group Publishing Limited