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• W184477191 abstract "Page xiii Integrating Traveller Preference Heterogeneity in Transportation Planning from the Perspective of Principal‐Agent Theory Abstract This thesis explains the effects of traveller choice attributes in transport mode services to understand an inferred relationship between traveller and Transport for NSW (TfNSW), Australia in the context of Principal-Agent Theory (PAT). As agency problem is found in transport mode services of TfNSW, this thesis also suggests an approach to reduce this problem using traveller mode choice probability analysis. When travellers entrust their desire for a mode of transport that is customer-focused (i.e. safe, reliable, comfortable and low cost) to TfNSW, this creates a metaphorical contract between travellers and TfNSW, known as an agency contract. This contract is often characterised by agency uncertainty (problem) because both the traveller and the TfNSW are most likely to act in their own self-interest. It can be assumed that where there is a high use of public transport, the TfNSW is performing the entrusted tasks as per travellers’ expectation, which indicates an improvement in agency uncertainty. On the other hand, where there is a high use of private transport (car), it is likely that the TfNSW is biased in other stakeholders’ interest more rather than travellers’ interest, and the agency problem remains unresolved. The thesis focuses on latent variables (LV) and traditional objective attributes (TOA) together during the mode choice process (private and public) within the principal-agent relationship. A method, by which the utility of the principal (traveller) can be maximised and evaluated, is known as discrete choice experiment that has been employed to explore the relationship and an approach to reduce the agency problem in the relationship. A traditional random parameter logit (TRPL) model is compared with a hybrid RPL (HRPL) model in this research. For the later model, a two-step approach (also known as sequential approach) is implemented to incorporate LVs in choice models. Step 1 is the estimation of a MIMIC (multiple indicators and multiple causes) model; a type of regression model with a latent dependent variable(s). Step 2 is the estimation of a choice model with random parameters; information from the first step is incorporated in the second step. Exploring the agency relationship within transport mode services produces hypotheses and related propositions that are reported and tested in this study. From the results, it is shown that" @default.
• W184477191 created "2016-06-24" @default.
• W184477191 creator A5053735888 @default.
• W184477191 date "2014-01-01" @default.
• W184477191 modified "2023-09-27" @default.
• W184477191 title "Integrating Traveller Preference Heterogeneity in Transportation Planning From the Perspective of Principal-Agent Theory" @default.
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