Travel Choice Behavior Model Based on Mental Accounting of Travel Time and Cost
This paper analyzes the utility calculation principle of travelers from the perspective of mental accounting and proposes a travel choice behavior model that considers travel time and cost (MA-TC model). Then, a questionnaire is designed to analyze the results of the travel choice under different de...
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| Main Authors: | , , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2021-01-01
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| Series: | Journal of Advanced Transportation |
| Online Access: | http://dx.doi.org/10.1155/2021/4219396 |
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| _version_ | 1832563217359962112 |
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| author | Shixu Liu Jianchao Zhu Said M. Easa Lidan Guo Shuyu Wang Haoyu Wang Yijian Xu |
| author_facet | Shixu Liu Jianchao Zhu Said M. Easa Lidan Guo Shuyu Wang Haoyu Wang Yijian Xu |
| author_sort | Shixu Liu |
| collection | DOAJ |
| description | This paper analyzes the utility calculation principle of travelers from the perspective of mental accounting and proposes a travel choice behavior model that considers travel time and cost (MA-TC model). Then, a questionnaire is designed to analyze the results of the travel choice under different decision-making scenarios. Model parameters are estimated using nonlinear regression, and the utility calculation principles are developed under different hypothetical scenarios. Then, new expressions for the utility function under deterministic and risky conditions are presented. For verification, the nonlinear correlation coefficient and hit rate are used to compare the proposed MA-TC model with the other two models: (1) the classical prospect theory with travel time and cost (PT-TC model) and (2) mental accounting based on the original hedonic editing criterion (MA-HE model). The results show that model parameters under deterministic and risky conditions are pretty different. In the deterministic case, travelers have similar sensitivity to the change in gain and loss of travel time and cost. The prediction accuracy of the MA-TC model is 3% lower than the PT-TC model and 6% higher than the MA-HE model. Under risky conditions, travelers are more sensitive to the change in loss than to the change in gain. Additionally, travelers tend to overestimate small probabilities and underestimate high probabilities when losing more than when gaining. The prediction accuracy of the MA-TC model is 2% higher than the PT-TC model and 6% higher than the MA-HE model. |
| format | Article |
| id | doaj-art-5dfbb93167614eff8fdb8bf0465e5f99 |
| institution | Kabale University |
| issn | 2042-3195 |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Journal of Advanced Transportation |
| spelling | doaj-art-5dfbb93167614eff8fdb8bf0465e5f992025-02-03T01:20:38ZengWileyJournal of Advanced Transportation2042-31952021-01-01202110.1155/2021/4219396Travel Choice Behavior Model Based on Mental Accounting of Travel Time and CostShixu Liu0Jianchao Zhu1Said M. Easa2Lidan Guo3Shuyu Wang4Haoyu Wang5Yijian Xu6College of Civil EngineeringCollege of Civil EngineeringDepartment of Civil EngineeringFujian Branch of Patent Examination Cooperation Beijing Center of the Patent OfficeCollege of Civil EngineeringCollege of Civil EngineeringCollege of Civil EngineeringThis paper analyzes the utility calculation principle of travelers from the perspective of mental accounting and proposes a travel choice behavior model that considers travel time and cost (MA-TC model). Then, a questionnaire is designed to analyze the results of the travel choice under different decision-making scenarios. Model parameters are estimated using nonlinear regression, and the utility calculation principles are developed under different hypothetical scenarios. Then, new expressions for the utility function under deterministic and risky conditions are presented. For verification, the nonlinear correlation coefficient and hit rate are used to compare the proposed MA-TC model with the other two models: (1) the classical prospect theory with travel time and cost (PT-TC model) and (2) mental accounting based on the original hedonic editing criterion (MA-HE model). The results show that model parameters under deterministic and risky conditions are pretty different. In the deterministic case, travelers have similar sensitivity to the change in gain and loss of travel time and cost. The prediction accuracy of the MA-TC model is 3% lower than the PT-TC model and 6% higher than the MA-HE model. Under risky conditions, travelers are more sensitive to the change in loss than to the change in gain. Additionally, travelers tend to overestimate small probabilities and underestimate high probabilities when losing more than when gaining. The prediction accuracy of the MA-TC model is 2% higher than the PT-TC model and 6% higher than the MA-HE model.http://dx.doi.org/10.1155/2021/4219396 |
| spellingShingle | Shixu Liu Jianchao Zhu Said M. Easa Lidan Guo Shuyu Wang Haoyu Wang Yijian Xu Travel Choice Behavior Model Based on Mental Accounting of Travel Time and Cost Journal of Advanced Transportation |
| title | Travel Choice Behavior Model Based on Mental Accounting of Travel Time and Cost |
| title_full | Travel Choice Behavior Model Based on Mental Accounting of Travel Time and Cost |
| title_fullStr | Travel Choice Behavior Model Based on Mental Accounting of Travel Time and Cost |
| title_full_unstemmed | Travel Choice Behavior Model Based on Mental Accounting of Travel Time and Cost |
| title_short | Travel Choice Behavior Model Based on Mental Accounting of Travel Time and Cost |
| title_sort | travel choice behavior model based on mental accounting of travel time and cost |
| url | http://dx.doi.org/10.1155/2021/4219396 |
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