Travel Routing Behaviors Based on Prospect Theory
Gao Jingxin · Journal of Highway and Transportation Research and Development · 2012
The research on travelers' routing behaviors has great theoretical and practical significance to urban transport engineering and planning.Traditional route choice research is based on expected utility theory which has some shortages,while prospect theory can better describe decision-making behaviors under conditions of uncertainty.First,setting of reference points in the model was discussed.Arrival time was considered to be reference point of routing,and commuters' kinds of reference points were studied through questionnaires.Finally,the impact of departure time on commuters' routing with stable reference points was studied.The result shows that the prospect theory is more practical than expected utility theory for routing,commuters tend to choose more stable routes when gains or losses are little,while they would choose uncertain routes when faced with a big loss.