Random Regret-based Discrete Choice Modeling A Tutorial /

• Main Author: Chorus, Caspar G. (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 2012.
• Series: SpringerBriefs in Business,
• Subjects: Business.; Organization.; Planning.; Operations research.; Decision making.; Management science.; Engineering economics.; Engineering economy.; Econometrics.; Business and Management.; Operation Research/Decision Theory.; Operations Research, Management Science.; Engineering Economics, Organization, Logistics, Marketing.

This tutorial presents a hands-on introduction to a new discrete choice modeling approach based on the behavioral notion of regret-minimization. This so-called Random Regret Minimization-approach (RRM) forms a counterpart of the Random Utility Maximization-approach (RUM) to discrete choice modeling,...