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On the (Ir)relevance of Prospect Theory in Modelling Uncertainty in Travel Decisions
16 references·14 citing·39 second hop
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References

  • 1988Prospect theory: An analysis of decision under risk32,475 cited
  • 1992Advances in prospect theory: Cumulative representation of uncertainty15,457 cited
  • 1954Exposition of a New Theory on the Measurement of Risk2,787 cited
  • 2004Decisions from Experience and the Effect of Rare Events in Risky Choice1,657 cited
  • 1994Investigating Generalizations of Expected Utility Theory Using Experimental Data1,100 cited
  • 2007A Random Regret-Minimization model of travel choice366 cited
  • 1997Decisions, Error and Heterogeneity217 cited
  • 1995Experimental investigations of errors in decision making under risk168 cited
  • 2004Violations of Expected Utility Theory in Route-Choice Stated Preferences: Certainty Effect and Inflation of Small Probabilities149 cited
  • 2004Reference Points in Commuter Departure Time Choice: A Prospect Theoretic Test of Alternative Decision Frames139 cited
  • 2001A Mean-Variance Model for Route Guidance in Advanced Traveler Information Systems130 cited
  • 2009Coping with unreliable transportation when collecting children: Examining parents’ behavior with cumulative prospect theory130 cited
  • 2003Sensitivity to Uncertainty: Need for a Paradigm Shift115 cited
  • 2009Models of stochastic choice and decision theories: why both are important for analyzing decisions108 cited

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  • 2008Identification of Parameters for a Prospect Theory Model for Travel Choice Analysis88 cited
  • 2003Modeling traveler choice behavior using the concepts of relative utility and relative interest83 cited
  • Cited by

    • 2012Embedding Decision Heuristics in Discrete Choice Models: A Review71 cited
    • 2012What about behaviour in travel demand modelling? An overview of recent progress22 cited
    • 2015Prospect Theory and its Applications to the Modelling of Travel Choice18 cited
    • 2012Travel behaviour change theories and experiments: a review and synthesis16 cited
    • 2012Modelling travellers’ risky choice in a revealed preference context: a comparison of EUT and non-EUT approaches15 cited
    • 2010Editorial: Recent Developments in Prospect Theory-based Travel Behaviour Research13 cited
    • 2010Prospect Theory and Travel Behaviour: a Personal Reflection Based on a Seminar12 cited
    • 2013Modeling the Effects of Population Density on Prospect Theory-Based Travel Mode-Choice Equilibrium12 cited
    • 2015Evaluation of Risk Perception in Route Choice Experiments: An Application of the Cumulative Prospect Theory9 cited
    • 2016From Transit Systems to Models: Purpose of Modelling7 cited
    • 2017Influence of travel time variability on train station choice for park-and-rider users4 cited
    • 2015The Effects of Information and Communication Technologies on Accessibility4 cited
    • 2012Timmermans’ Misleading Critique of Prospect Theory Actually Supports its Relevance for Travel Choice Modelling1 cited
    • 2012An analysis of Timmermans’ critique of Prospect Theory0 cited