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A prospect-based user equilibrium model with endogenous reference points and its application in congestion pricing

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  • Xu, Hongli
  • Lou, Yingyan
  • Yin, Yafeng
  • Zhou, Jing

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  • Xu, Hongli & Lou, Yingyan & Yin, Yafeng & Zhou, Jing, 2011. "A prospect-based user equilibrium model with endogenous reference points and its application in congestion pricing," Transportation Research Part B: Methodological, Elsevier, vol. 45(2), pages 311-328, February.
  • Handle: RePEc:eee:transb:v:45:y:2011:i:2:p:311-328
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    References listed on IDEAS

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    1. Botond Kőszegi & Matthew Rabin, 2006. "A Model of Reference-Dependent Preferences," The Quarterly Journal of Economics, Oxford University Press, vol. 121(4), pages 1133-1165.
    2. Wolfgang Pesendorfer, 2006. "Behavioral Economics Comes of Age," Levine's Bibliography 321307000000000038, UCLA Department of Economics.
    3. Watling, David, 2006. "User equilibrium traffic network assignment with stochastic travel times and late arrival penalty," European Journal of Operational Research, Elsevier, vol. 175(3), pages 1539-1556, December.
    4. Huang, Hai-Jun & Lam, William H. K., 2002. "Modeling and solving the dynamic user equilibrium route and departure time choice problem in network with queues," Transportation Research Part B: Methodological, Elsevier, vol. 36(3), pages 253-273, March.
    5. 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.
    6. Lam, William H.K. & Shao, Hu & Sumalee, Agachai, 2008. "Modeling impacts of adverse weather conditions on a road network with uncertainties in demand and supply," Transportation Research Part B: Methodological, Elsevier, vol. 42(10), pages 890-910, December.
    7. Richard H. Thaler & Amos Tversky & Daniel Kahneman & Alan Schwartz, 1997. "The Effect of Myopia and Loss Aversion on Risk Taking: An Experimental Test," The Quarterly Journal of Economics, Oxford University Press, vol. 112(2), pages 647-661.
    8. Schwanen, Tim & Ettema, Dick, 2009. "Coping with unreliable transportation when collecting children: Examining parents' behavior with cumulative prospect theory," Transportation Research Part A: Policy and Practice, Elsevier, vol. 43(5), pages 511-525, June.
    9. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    10. Ulrich Schmidt & Chris Starmer & Robert Sugden, 2008. "Third-generation prospect theory," Journal of Risk and Uncertainty, Springer, vol. 36(3), pages 203-223, June.
    11. Saleh, Wafaa & Farrell, Séona, 2005. "Implications of congestion charging for departure time choice: Work and non-work schedule flexibility," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(7-9), pages 773-791.
    12. Drazen Prelec, 1998. "The Probability Weighting Function," Econometrica, Econometric Society, vol. 66(3), pages 497-528, May.
    13. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    14. Small, Kenneth A, 1982. "The Scheduling of Consumer Activities: Work Trips," American Economic Review, American Economic Association, vol. 72(3), pages 467-479, June.
    15. Connors, Richard D. & Sumalee, Agachai, 2009. "A network equilibrium model with travellers' perception of stochastic travel times," Transportation Research Part B: Methodological, Elsevier, vol. 43(6), pages 614-624, July.
    16. F. H. Knight, 1924. "Some Fallacies in the Interpretation of Social Cost," The Quarterly Journal of Economics, Oxford University Press, vol. 38(4), pages 582-606.
    17. Lou, Yingyan & Yin, Yafeng & Lawphongpanich, Siriphong, 2010. "Robust congestion pricing under boundedly rational user equilibrium," Transportation Research Part B: Methodological, Elsevier, vol. 44(1), pages 15-28, January.
    18. Jou, Rong-Chang & Kitamura, Ryuichi & Weng, Mei-Chuan & Chen, Chih-Cheng, 2008. "Dynamic commuter departure time choice under uncertainty," Transportation Research Part A: Policy and Practice, Elsevier, vol. 42(5), pages 774-783, June.
    19. Munro, Alistair & Sugden, Robert, 2003. "On the theory of reference-dependent preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 50(4), pages 407-428, April.
    20. Bonsall, Peter & Shires, Jeremy & Maule, John & Matthews, Bryan & Beale, Jo, 2007. "Responses to complex pricing signals: Theory, evidence and implications for road pricing," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(7), pages 672-683, August.
    21. 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.
    22. Camerer, Colin F & Ho, Teck-Hua, 1994. "Violations of the Betweenness Axiom and Nonlinearity in Probability," Journal of Risk and Uncertainty, Springer, vol. 8(2), pages 167-196, March.
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    Citations

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    Cited by:

    1. Chen, Anthony & Zhou, Zhong & Lam, William H.K., 2011. "Modeling stochastic perception error in the mean-excess traffic equilibrium model," Transportation Research Part B: Methodological, Elsevier, vol. 45(10), pages 1619-1640.
    2. Di, Xuan & Liu, Henry X. & Ban, Xuegang (Jeff), 2016. "Second best toll pricing within the framework of bounded rationality," Transportation Research Part B: Methodological, Elsevier, vol. 83(C), pages 74-90.
    3. repec:eee:transb:v:107:y:2018:i:c:p:1-17 is not listed on IDEAS
    4. Xu, Xiangdong & Chen, Anthony & Cheng, Lin & Yang, Chao, 2017. "A link-based mean-excess traffic equilibrium model under uncertainty," Transportation Research Part B: Methodological, Elsevier, vol. 95(C), pages 53-75.
    5. repec:eee:transa:v:105:y:2017:i:c:p:123-137 is not listed on IDEAS
    6. Kemel, Emmanuel & Paraschiv, Corina, 2013. "Prospect Theory for joint time and money consequences in risk and ambiguity," Transportation Research Part B: Methodological, Elsevier, vol. 56(C), pages 81-95.
    7. Wang, Judith Y.T. & Ehrgott, Matthias & Chen, Anthony, 2014. "A bi-objective user equilibrium model of travel time reliability in a road network," Transportation Research Part B: Methodological, Elsevier, vol. 66(C), pages 4-15.
    8. Tan, Zhijia & Yang, Hai & Guo, Renyong, 2014. "Pareto efficiency of reliability-based traffic equilibria and risk-taking behavior of travelers," Transportation Research Part B: Methodological, Elsevier, vol. 66(C), pages 16-31.
    9. Li, Xue-yan & Li, Xue-mei & Li, Xue-wei & Qiu, He-ting, 2017. "Multi-agent fare optimization model of two modes problem and its analysis based on edge of chaos," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 469(C), pages 405-419.
    10. Xie, Chi & Liu, Zugang, 2014. "On the stochastic network equilibrium with heterogeneous choice inertia," Transportation Research Part B: Methodological, Elsevier, vol. 66(C), pages 90-109.
    11. repec:kap:netspa:v:17:y:2017:i:3:d:10.1007_s11067-017-9344-3 is not listed on IDEAS

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