An examination of the risk parameter as a measurement of risk attitude in discrete choice modelling

Ying Huang

Research output: ThesisDoctoral Thesis

Abstract

This thesis advances the representation of risk attitudes in random utility theory as applied in discrete choice models. The analysis reveals that inferring travellers' tolerance to risk by estimating a risk parameter is context dependent. Hence, there is no one-to-one correspondence between risk attitude and the sign or magnitude of the risk parameter and standard estimating models are inappropriate. Two modelling remedies are proposed and applied to a mode and time of departure stated preference survey for Perth.
LanguageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • The University of Western Australia
Supervisors/Advisors
  • Smith, Brett, Supervisor
  • Olaru, Doina, Supervisor
  • Taplin, John, Supervisor
Thesis sponsors
Award date11 May 2018
DOIs
StateUnpublished - 2018

Fingerprint

Risk attitude
Discrete choice modelling
Discrete choice models
Random utility
Modeling
Remedies
Travellers
Utility theory
Stated preference
Tolerance

Cite this

@phdthesis{71c5b91d12c043aeaf0054709a9950ee,
title = "An examination of the risk parameter as a measurement of risk attitude in discrete choice modelling",
abstract = "This thesis advances the representation of risk attitudes in random utility theory as applied in discrete choice models. The analysis reveals that inferring travellers' tolerance to risk by estimating a risk parameter is context dependent. Hence, there is no one-to-one correspondence between risk attitude and the sign or magnitude of the risk parameter and standard estimating models are inappropriate. Two modelling remedies are proposed and applied to a mode and time of departure stated preference survey for Perth.",
keywords = "transport, discrete choice modelling, park-and-ride, travel time variation, random utility theory, risk attitude, travel behaviour",
author = "Ying Huang",
year = "2018",
doi = "10.4225/23/5b0b975d4f91e",
language = "English",
school = "The University of Western Australia",

}

Huang, Y 2018, 'An examination of the risk parameter as a measurement of risk attitude in discrete choice modelling', Doctor of Philosophy, The University of Western Australia. DOI: 10.4225/23/5b0b975d4f91e

TY - THES

T1 - An examination of the risk parameter as a measurement of risk attitude in discrete choice modelling

AU - Huang,Ying

PY - 2018

Y1 - 2018

N2 - This thesis advances the representation of risk attitudes in random utility theory as applied in discrete choice models. The analysis reveals that inferring travellers' tolerance to risk by estimating a risk parameter is context dependent. Hence, there is no one-to-one correspondence between risk attitude and the sign or magnitude of the risk parameter and standard estimating models are inappropriate. Two modelling remedies are proposed and applied to a mode and time of departure stated preference survey for Perth.

AB - This thesis advances the representation of risk attitudes in random utility theory as applied in discrete choice models. The analysis reveals that inferring travellers' tolerance to risk by estimating a risk parameter is context dependent. Hence, there is no one-to-one correspondence between risk attitude and the sign or magnitude of the risk parameter and standard estimating models are inappropriate. Two modelling remedies are proposed and applied to a mode and time of departure stated preference survey for Perth.

KW - transport

KW - discrete choice modelling

KW - park-and-ride

KW - travel time variation

KW - random utility theory

KW - risk attitude

KW - travel behaviour

U2 - 10.4225/23/5b0b975d4f91e

DO - 10.4225/23/5b0b975d4f91e

M3 - Doctoral Thesis

ER -