Hess, S (2012) Rethinking heterogeneity: the role of attitudes, decision rules and data processing strategies. Transportation Letters, 4 (2). 105 - 113 . ISSN 0924-6460
The study of heterogeneity across individual decision makers is one of the key areas of activity in the field of behavioural research. However, a disproportionately large share of the research effort focusses on heterogeneity in sensitivities to individual attributes, and in particular how such heterogeneity can be accommodated in a random coefficients framework. While differences in marginal sensitivities clearly play a role in driving behaviour, this paper makes the case that retrieved differences in such sensitivities may in fact be caused by a number of different factors. In particular, we look at the possible role of underlying attitudes, differences in decision rules across respondents and the role of information processing strategies. We show evidence from a number of studies that suggest that accounting for such richer behavioural patterns leads to important gains in understanding of behaviour, and may also reduce the level of residual random heterogeneity. Conversely, this suggests that not adequately accounting for such additional factors may overstate the degree of unexplained heterogeneity in marginal sensitivities.
|Institution:||The University of Leeds|
|Academic Units:||The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds)|
|Depositing User:||Symplectic Publications|
|Date Deposited:||26 Apr 2012 12:45|
|Last Modified:||16 Sep 2014 17:20|
|Publisher:||J Ross Publishing|