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Degradable transport network: Travel time budget of travelers with heterogeneous risk aversion

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  • Lo, Hong K.
  • Luo, X.W.
  • Siu, Barbara W.Y.

Abstract

Empirical studies have suggested that travel time reliability plays an important role in travelers' route choice behavior. This study develops an approach to relate the travel time variability due to stochastic network link capacity variations with travelers' risk aversive route choice behaviors. We postulate that travelers acquire the variability of route travel times based on past experiences and factor such variability into their route choice consideration in the form of a travel time budget. This travel time budget varies with individuals and trip purposes and is related to the requirement on punctual arrivals. Moreover, all travelers want to minimize their travel time budgets. We formulate a multi-class mixed-equilibrium mathematical program to capture the route choice behaviors of travelers with heterogeneous risk aversions or requirements on punctual arrivals. Such an understanding has important implications on strengthening critical network links. This study then conducts numerical studies to illustrate its properties.

Suggested Citation

  • Lo, Hong K. & Luo, X.W. & Siu, Barbara W.Y., 2006. "Degradable transport network: Travel time budget of travelers with heterogeneous risk aversion," Transportation Research Part B: Methodological, Elsevier, vol. 40(9), pages 792-806, November.
    • Handle: RePEc:eee:transb:v:40:y:2006:i:9:p:792-806
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    References listed on IDEAS

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    1. Lo, Hong K. & Chen, Anthony, 2000. "Traffic equilibrium problem with route-specific costs: formulation and algorithms," Transportation Research Part B: Methodological, Elsevier, vol. 34(6), pages 493-513, August.
    2. Chen, Anthony & Yang, Hai & Lo, Hong K. & Tang, Wilson H., 2002. "Capacity reliability of a road network: an assessment methodology and numerical results," Transportation Research Part B: Methodological, Elsevier, vol. 36(3), pages 225-252, March.
    3. Du, Zhen-Ping & Nicholson, Alan, 1997. "Degradable transportation systems: Sensitivity and reliability analysis," Transportation Research Part B: Methodological, Elsevier, vol. 31(3), pages 225-237, June.
    4. Lo, Hong K. & Tung, Yeou-Koung, 2003. "Network with degradable links: capacity analysis and design," Transportation Research Part B: Methodological, Elsevier, vol. 37(4), pages 345-363, May.
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