BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Memento EPFL//
BEGIN:VEVENT
SUMMARY:Regret-based Discrete Choice Models: Progress and Chalenges
DTSTART:20110809T110000
DTSTAMP:20260407T051237Z
UID:abfc8a5f609541a58ab5424b2d2364f3df96b71be7102931c6ac90c9
CATEGORIES:Conferences - Seminars
DESCRIPTION:Prof. Caspar Chorus\, Delft University of Technology\nThis tal
 k presents an overview of recent progress related to the recently introduc
 ed discrete choice-paradigm of Random Regret Minimization (RRM). The RRM-a
 pproach to discrete choice-modeling provides an alternative to the convent
 ional  Random Utility Maximization (RUM)-based approach which has dominate
 d the field since its inception. In contrast with RUM-theory  RRM-theory p
 ostulates that when choosing  decision-makers are concerned with avoiding 
 the situation where one or more non-chosen alternatives perform better tha
 n a chosen one in terms of one or more attributes. From this central behav
 ioral premise  semi-compensatory decision-making and choice set-compositio
 n effects like the compromise effect emerge as RRM-model features. Being a
 s parsimonious as RUM's linear-additive multinomial logit model  RRM featu
 res logit-choice-probabilities and is easily estimable using conventional 
 discrete choice-software packages. This paper ties together the main insig
 hts and results from a number of recent studies that have explored RRM's m
 odel properties and empirically tested RRM-based models vis-à-vis competi
 ng model forms. As such  the talk provides an assessment of RRM's potentia
 l and its limitations as a discrete choice model.\nBio\n\nCaspar Chorus is
  associate professor at Delft University of Technology (Section of Transpo
 rt and Logistics). In past years  he was visiting scientist at Cornell Uni
 versity  assistant professor at Eindhoven University of Technology  visiti
 ng doctoral student at MIT and doctoral student at Delft University of Tec
 hnology. His research is concerned with increasing the behavioral realism 
 of travel demand models. The Random Regret Minimization-approach he develo
 ped has been succesfully applied in various research groups around the wor
 ld  and is being incorporated in the newest version of the NLOGIT-software
  package. His 2007 dissertation "Traveler response to information" has bee
 n awarded  among other prizes  IATBR's Eric Pas Prize.
LOCATION:GC B3 424
STATUS:CONFIRMED
END:VEVENT
END:VCALENDAR