SHANDONG SCIENCE ›› 2016, Vol. 29 ›› Issue (5): 111-116.doi: 10.3976/j.issn.1002-4026.2016.05.018

• Tranfic and Transportation • Previous Articles     Next Articles

Prospect theory based dynamic route choice model

SHI Guoqi1，JIA Fuqiang2   

  1. 1.School of Traffic and Transportation, Lanzhou Jiaotong University, Lanzhou 730070, China;2. Key Disciplines Construction Base of Management Science and Engineering, Lanzhou Jiaotong University, Lanzhou 730070, China
  • Received:2016-04-21 Published:2016-10-20 Online:2016-10-20

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Abstract:

Travelers often dynamically select their routes since their route choice behaviors are influenced by many uncertain factors in practical travel process. We establish a prospect theory based dynamic route choice model from bounded rationality and change on the way in route choice. We further present a dynamic route choice model more applicable to people thinking habit. It allows a traveler to dynamically adjust the route based on road situation. We also verify its correctness and applicability through practical instances. Results show that a traveler can change route on the way when he meets a congested road section. He will choose a risky route if his psychological expected time cannot be satisfied.

Key words: prospect theory, reference point, bounded rationality, dynamic route choice, change on the way

CLC Number: 

  • U239.5

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