Random regret-based discrete choice modeling : a tutorial
Author(s)
Bibliographic Information
Random regret-based discrete choice modeling : a tutorial
(SpringerBriefs in business)
Springer, c2012
Available at 2 libraries
  Aomori
  Iwate
  Miyagi
  Akita
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  Fukushima
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  Okayama
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  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
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Note
Includes bibliographical references
Description and Table of Contents
Description
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, which has for decades dominated the field of choice modeling and adjacent fields such as transportation, marketing and environmental economics. Being as parsimonious as conventional RUM-models and compatible with popular software packages, the RRM-approach provides an alternative and appealing account of choice behavior. Rather than providing highly technical discussions as usually encountered in scholarly journals, this tutorial aims to allow readers to explore the RRM-approach and its potential and limitations hands-on and based on a detailed discussion of examples. This tutorial is written for students, scholars and practitioners who have a basic background in choice modeling in general and RUM-modeling in particular. It has been taken care of that all concepts and results should be clear to readers that do not have an advanced knowledge of econometrics.
Table of Contents
?Introduction.- A Random Regret Minimization-based discrete choice model.- Empirical application of Random Regret Minimization-models.- Applicability of Random Regret Minimization-models.- Selection of recent developments in RRM-modeling.
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