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.
|Qualification||Doctor of Philosophy|
|Award date||11 May 2018|
|Publication status||Unpublished - 2018|