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Publication date: 31 January 2015

Stephane Hess and Caspar G. Chorus

This chapter proposes a new mixture model which allows for heterogeneity in sensitivities and decision rules across decision makers and attributes.

Abstract

Purpose

This chapter proposes a new mixture model which allows for heterogeneity in sensitivities and decision rules across decision makers and attributes.

Theory

A new mixture model is put forward in which the different latent classes make use of different decision rules, where the use of generalised random regret minimisation kernel allows for within class heterogeneity in the decision rules applied across attributes.

Findings

Our theoretical developments are supported by the findings of an empirical application using data from a typical stated choice survey.

Originality and value

Existing work has looked at heterogeneity in decision rules and sensitivities across respondents. Other work has focused on the possibility that different decision rules apply to different attributes. This chapter puts forward a model that combines these two directions of research and does so in a way that lets the optimal specification be driven by the data rather than being imposed by the analyst.

Details

Bounded Rational Choice Behaviour: Applications in Transport
Type: Book
ISBN: 978-1-78441-071-1

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Book part
Publication date: 31 January 2015

Abstract

Details

Bounded Rational Choice Behaviour: Applications in Transport
Type: Book
ISBN: 978-1-78441-071-1

Content available
Book part
Publication date: 31 January 2015

Abstract

Details

Bounded Rational Choice Behaviour: Applications in Transport
Type: Book
ISBN: 978-1-78441-071-1

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Article
Publication date: 1 July 1923

THE fact that the forthcoming conference of the Library Association is to be held at Eastbourne this year should provide it with an additional official interest, as it is…

Abstract

THE fact that the forthcoming conference of the Library Association is to be held at Eastbourne this year should provide it with an additional official interest, as it is here that the Association Hon. Solicitor and Legal Adviser holds the important office of Town Clerk. Mr. Fovargue is the authority on Library Law in all its aspects, and is the author of several books on this important subject. We are particularly happy in being able to print an article from his pen in our special Conference number. The programme of the proceedings is by now, no doubt, in the hands of our readers, and will be found to be less crowded, but no less useful for that, than in previous years. Apart from the usual business programme, which should prove full of interest, the social side has been fully catered for and delightfully arranged. Several interesting motor trips are to take place, and delegates will be afforded an opportunity of enjoying the charms of the beautiful county of Sussex as well as those of one of our most favoured of seaside resorts.

Details

New Library World, vol. 26 no. 2
Type: Research Article
ISSN: 0307-4803

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Book part
Publication date: 19 February 2020

Piero Formica

We live in the Age of Knowledge, which is impelling us towards the Age of Imagination. The technological wave rises and with it rises a wave of change that will affect…

Abstract

We live in the Age of Knowledge, which is impelling us towards the Age of Imagination. The technological wave rises and with it rises a wave of change that will affect both the economy and society. When these two waves will reach the coast where knowledge meets ignorance, and how to ride them, are questions that require us to imagine the future. We must, therefore, embark on the vessel of imagination, leaving behind us the baggage of what we know and understand. Imagination is not just the springboard for ideas; it also acts to connect ideas in different ways that may blossom in the garden of an entrepreneurial renaissance. Symbols, metaphors and concepts that belong to our tacit knowledge come to light in our memory. It is from here that the imagination draws its lifeblood, broadening our horizons, inducing us to interact with others who may be the bearers of other cultures. Are we ready to engage in an imaginative learning process to join business with innovation and art? Are we prepared to design a wide-open white space where the actors of entrepreneurship, innovation and art can generate a constructive tension that will sweep away what appears to be mutual antagonism or incompatibility?

Details

Innovation and the Arts: The Value of Humanities Studies for Business
Type: Book
ISBN: 978-1-78973-886-5

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