Route choice, travel time variability, and rational inattention

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Route choice, travel time variability, and rational inattention. / Jiang, Gege; Fosgerau, Mogens; Lo, Hong K.

I: Transportation Research Procedia, Bind 38, 2019, s. 482-502.

Publikation: Bidrag til tidsskrift › Konferenceartikel › Forskning › fagfællebedømt

Harvard

Jiang, G, Fosgerau, M & Lo, HK 2019, 'Route choice, travel time variability, and rational inattention', Transportation Research Procedia, bind 38, s. 482-502. https://doi.org/10.1016/j.trpro.2019.05.026

APA

Jiang, G., Fosgerau, M., & Lo, H. K. (2019). Route choice, travel time variability, and rational inattention. Transportation Research Procedia, 38, 482-502. https://doi.org/10.1016/j.trpro.2019.05.026

Vancouver

Jiang G, Fosgerau M, Lo HK. Route choice, travel time variability, and rational inattention. Transportation Research Procedia. 2019;38:482-502. https://doi.org/10.1016/j.trpro.2019.05.026

Author

Jiang, Gege ; Fosgerau, Mogens ; Lo, Hong K. / Route choice, travel time variability, and rational inattention. I: Transportation Research Procedia. 2019 ; Bind 38. s. 482-502.

Bibtex

@inproceedings{181d9e446d9a405e9f5310023e7c0678,
title = "Route choice, travel time variability, and rational inattention",
abstract = "This paper sets up a rational inattention model for the route choice problem in a stochastic network where travelers face random travel time. Previous research has assumed that travelers incorporate all provided information without effort. This study assumes that information is costly and that travelers rationally choose how much information to acquire prior to choosing route. We begin with a single traveler and then extend the model to heterogeneous travelers where rationally inattentive user equilibrium (RIUE) is achieved. From the perspective of a single traveler, more information always reduces the impact of travel time variability and increases the probability of choosing a less costly route. However, in RIUE, more information may reduce the social welfare in some scenarios.",
keywords = "Discrete choice, Imperfect information, Information strategy, Rational inattention, Travel time variability",
author = "Gege Jiang and Mogens Fosgerau and Lo, {Hong K.}",
year = "2019",
doi = "10.1016/j.trpro.2019.05.026",
language = "English",
volume = "38",
pages = "482--502",
journal = "Transportation Research Procedia",
issn = "2352-1465",
publisher = "Elsevier",
note = "23rd International Symposium on Transportation and Traffic Theory, ISTTT 2019 ; Conference date: 24-07-2018 Through 26-07-2018",

}

RIS

TY - GEN

T1 - Route choice, travel time variability, and rational inattention

AU - Jiang, Gege

AU - Fosgerau, Mogens

AU - Lo, Hong K.

PY - 2019

Y1 - 2019

N2 - This paper sets up a rational inattention model for the route choice problem in a stochastic network where travelers face random travel time. Previous research has assumed that travelers incorporate all provided information without effort. This study assumes that information is costly and that travelers rationally choose how much information to acquire prior to choosing route. We begin with a single traveler and then extend the model to heterogeneous travelers where rationally inattentive user equilibrium (RIUE) is achieved. From the perspective of a single traveler, more information always reduces the impact of travel time variability and increases the probability of choosing a less costly route. However, in RIUE, more information may reduce the social welfare in some scenarios.

AB - This paper sets up a rational inattention model for the route choice problem in a stochastic network where travelers face random travel time. Previous research has assumed that travelers incorporate all provided information without effort. This study assumes that information is costly and that travelers rationally choose how much information to acquire prior to choosing route. We begin with a single traveler and then extend the model to heterogeneous travelers where rationally inattentive user equilibrium (RIUE) is achieved. From the perspective of a single traveler, more information always reduces the impact of travel time variability and increases the probability of choosing a less costly route. However, in RIUE, more information may reduce the social welfare in some scenarios.

KW - Discrete choice

KW - Imperfect information

KW - Information strategy

KW - Rational inattention

KW - Travel time variability

UR - http://www.scopus.com/inward/record.url?scp=85074898445&partnerID=8YFLogxK

U2 - 10.1016/j.trpro.2019.05.026

DO - 10.1016/j.trpro.2019.05.026

M3 - Conference article

AN - SCOPUS:85074898445

VL - 38

SP - 482

EP - 502

JO - Transportation Research Procedia

JF - Transportation Research Procedia

SN - 2352-1465

T2 - 23rd International Symposium on Transportation and Traffic Theory, ISTTT 2019

Y2 - 24 July 2018 through 26 July 2018

ER -

ID: 232269674