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 Part B: Methodological, 02.2020, s. 188-207.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Jiang, G, Fosgerau, M & Lo, HK 2020, 'Route choice, travel time variability, and rational inattention', Transportation Research Part B: Methodological, s. 188-207. https://doi.org/10.1016/j.trb.2019.05.020

APA

Jiang, G., Fosgerau, M., & Lo, H. K. (2020). Route choice, travel time variability, and rational inattention. Transportation Research Part B: Methodological, 188-207. https://doi.org/10.1016/j.trb.2019.05.020

Vancouver

Jiang G, Fosgerau M, Lo HK. Route choice, travel time variability, and rational inattention. Transportation Research Part B: Methodological. 2020 feb.;188-207. https://doi.org/10.1016/j.trb.2019.05.020

Author

Jiang, Gege ; Fosgerau, Mogens ; Lo, Hong K. / Route choice, travel time variability, and rational inattention. I: Transportation Research Part B: Methodological. 2020 ; s. 188-207.

Bibtex

@article{6b06be3368fe47eb9baaa3c78814f316,
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 = "2020",
month = feb,
doi = "10.1016/j.trb.2019.05.020",
language = "English",
pages = "188--207",
journal = "Transportation Research. Part B: Methodological",
issn = "0191-2615",
publisher = "Pergamon Press",

}

RIS

TY - JOUR

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

AU - Jiang, Gege

AU - Fosgerau, Mogens

AU - Lo, Hong K.

PY - 2020/2

Y1 - 2020/2

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

U2 - 10.1016/j.trb.2019.05.020

DO - 10.1016/j.trb.2019.05.020

M3 - Journal article

AN - SCOPUS:85066275449

SP - 188

EP - 207

JO - Transportation Research. Part B: Methodological

JF - Transportation Research. Part B: Methodological

SN - 0191-2615

ER -

ID: 225920812