Travel Choice Behavior Model Based on Mental Accounting of Travel Time and Cost

Table 3

Calibration results of MA-TC model parameters under deterministic and risky conditions.

Solution	Estimated parameter
Algorithm	^a	^a	^b	^c	^c	SSE
(a) Deterministic conditions
LM	0.39	0.36	1.48	−^d	—	0.0198
PSO	0.34	0.26	1.75	—	—	0.0232
BreedPSO	0.31	0.20	2.40	—	—	0.0232
(b) Risky conditions
LM	0.25	0.33	1.12	0.87	0.48	0.2290
PSO	0.19	0.29	2.21	0.88	0.35	0.1995
BreedPSO	0.13	0.48	1.31	0.68	0.22	0.1605

^a and are risk attitude coefficients, which measure the degree of diminishing sensitivity of the decision makers to risk changes. The greater the value is, the more sensitive the decision makers are to risk. ^b is the loss aversion coefficient, which indicates that individuals are more sensitive to losses than to gains. The greater the value is, the more sensitive the decision makers are to losses. ^c and are parameters denoting the curvature of the weight function. A smaller value of the parameters indicates that the tendency of the decision makers to overestimate small probability events and underestimate high probability events is more obvious. ^d denotes not applicable.