Route choice decision under travel time uncertainty
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.
Volume (Year): 39 (2005)
Issue (Month): 4 (May)
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