Is Random Regret Minimization More Suitable in Predicting Mode Choice Decision for Indonesian Context than Random Utility Maximization?

Muhammad Zudhy Irawan, Dewanti, Sigit Priyanto

2019

Abstract

Since often encountered the missing prediction by using the concept of random utility maximization (RUM) for Indonesian context, this study proposed a theory of random regret minimization (RRM) aiming to more precisely predict the chosen mode and to increase the model fit. Three variances of RRM were implemented: Classical RRM, µRRM, and PRRM. Yogyakarta and Palembang were chosen as a case of the study by involving 708 respondents. A stated preference survey was carried out by offering six scenarios to the respondents. We apply the value of final log-likelihood, rho-square, Akaike and Bayesian Information Criterion, and hit rate to compare the model fit. We also calculate the value of travel time saving, and the time and cost elasticity. The result shows that by excluding the rho square, RRM outperforms RUM in both cities. The µRRM produces the best model fit in a case of travel mode choice in Yogyakarta, while there is a tendency that PRRM produces a better model fit than µRRM in Palembang. We also found that RRM tends to generate a higher VTSS, time and cost elasticity than RUM. Travellers in both cities also tend to be more sensitive to change in travel time than travel cost.

Paper Citation

in Harvard Style

Irawan M., Dewanti. and Priyanto S. (2019). Is Random Regret Minimization More Suitable in Predicting Mode Choice Decision for Indonesian Context than Random Utility Maximization?.In Proceedings of the 2nd International Conference on Applied Science, Engineering and Social Sciences - Volume 1: ICASESS, ISBN 978-989-758-452-7, pages 193-199. DOI: 10.5220/0009880601930199

in Bibtex Style

@conference{icasess19,
author={Muhammad Zudhy Irawan and Dewanti and Sigit Priyanto},
title={Is Random Regret Minimization More Suitable in Predicting Mode Choice Decision for Indonesian Context than Random Utility Maximization?},
booktitle={Proceedings of the 2nd International Conference on Applied Science, Engineering and Social Sciences - Volume 1: ICASESS,},
year={2019},
pages={193-199},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0009880601930199},
isbn={978-989-758-452-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd International Conference on Applied Science, Engineering and Social Sciences - Volume 1: ICASESS,
TI - Is Random Regret Minimization More Suitable in Predicting Mode Choice Decision for Indonesian Context than Random Utility Maximization?
SN - 978-989-758-452-7
AU - Irawan M.
AU - Dewanti.
AU - Priyanto S.
PY - 2019
SP - 193
EP - 199
DO - 10.5220/0009880601930199