On the (Ir)relevance of Prospect Theory in Modelling Uncertainty in Travel Decisions
This paper reflects on the relevance of prospect theory for transportation research. By discussing the original purpose and context of this theory of risky choice and the models that have been derived from the theory, the shortcomings and boundaries of the theory are discussed. It is argued that man...
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| Format: | Article |
| Language: | English |
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TU Delft Open
2010-12-01
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| Series: | European Journal of Transport and Infrastructure Research |
| Online Access: | https://journals.open.tudelft.nl/ejtir/article/view/2900 |