Route choice decision under travel time uncertainty
Abstract
We study route choice behavior when travel time is uncertain. In this case, users choice depends both on expected travel time and travel time variability. We collected survey data in the Paris area and analyzed them using a method based on the ordered probit. This leads to an ordinal as well as to different cardinal measures of risk aversion. Such an approach is consistent with expected and with non-expected utility theory. Econometric estimates suggest that absolute risk aversion is constant and show that risk aversion is larger for transit users, blue collars and for business appointments.Download Info
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Bibliographic Info
Article provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.
Volume (Year): 39 (2005)
Issue (Month): 4 (May)
Pages: 295-324
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Lindsey, Robin, 2009. "Cost recovery from congestion tolls with random capacity and demand," Journal of Urban Economics, Elsevier, vol. 66(1), pages 16-24, July.
- Gaker, David & Zheng, Yanding & Walker, Joan, 2010. "Experimental Economics in Transportation: A Focus on Social Influences and the Provision of Information," University of California Transportation Center, Working Papers qt7vg9m3r1, University of California Transportation Center.
- de Palma, André & Prigent, Jean-Luc, 2008. "Utilitarianism and fairness in portfolio positioning," Journal of Banking & Finance, Elsevier, vol. 32(8), pages 1648-1660, August.
- Piet Rietveld, 2010. "The Economics of Information in Transport," Tinbergen Institute Discussion Papers 10-110/3, Tinbergen Institute.
- Becky Loo, 2010. "Cross-boundary container truck congestion: the case of the Hong Kong-Pearl River Delta region," Transportation, Springer, vol. 37(2), pages 257-274, March.
- Engelson, Leonid & Fosgerau, Mogens, 2011.
"Additive measures of travel time variability,"
MPRA Paper
42262, University Library of Munich, Germany.
- Engelson, Leonid & Fosgerau, Mogens, 2011. "Additive measures of travel time variability," Transportation Research Part B: Methodological, Elsevier, vol. 45(10), pages 1560-1571.
- André De Palma & Robin Lindsey & Nathalie Picard, 2008. "Risk aversion, the value of information and traffic equilibrium," Working Papers hal-00349492, HAL.
- André De Palma & Nathalie Picard, 2005. "Congestion on risky routes with risk adverse drivers," ERSA conference papers ersa05p423, European Regional Science Association.
- Gatta, Valerio & Marcucci, Edoardo, 2007.
"Quality and public transport service contracts,"
European Transport \ Trasporti Europei,
ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 36, pages 92-106.
- Valerio Gatta & Edoardo Marcucci, 2007. "Quality and Public Transport Service Contracts," Working Papers 0708, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2007.
- Lindsey, Robin, 2011. "State-dependent congestion pricing with reference-dependent preferences," Transportation Research Part B: Methodological, Elsevier, vol. 45(10), pages 1501-1526.
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