Vehicle purchasing behaviour of individuals and groups regret or reward?
Date
2013
Authors
Beck, M.J.
Chorus, C.G.
Rose, J.M.
Hensher, D.
Editors
Advisors
Journal Title
Journal ISSN
Volume Title
Type:
Journal article
Citation
Journal of Transport Economics and Policy, 2013; 47(3):475-492
Statement of Responsibility
Conference Name
Abstract
Random utility maximisation is the pre-eminent behavioural theory used to model choices. An alternative paradigm, however, is random regret minimisation. While the majority of the literature examines the choices of individuals, this paper compares the choices of groups, as well as individuals, in both the utility maximisation and regret minimisation frameworks, and explores the influence household members have with respect to an automobile purchase decision within an interactive agency choice experiment. Regret minimisation is shown to be the preferred behavioural mechanism for groups and individuals within groups who shoulder a high degree of responsibility for the choice of the group.
School/Discipline
Dissertation Note
Provenance
Description
Access Status
Rights
Copyright 2013 University of Bath