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

Ying Huang

Research output: ThesisDoctoral Thesis

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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.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • The University of Western Australia
Supervisors/Advisors
  • Smith, Brett, Supervisor
  • Olaru, Doina, Supervisor
  • Taplin, John Harold, Supervisor
Thesis sponsors
Award date11 May 2018
DOIs
Publication statusUnpublished - 2018

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