The Impact of Travel Time Information on Travelers’ Learning under Uncertainty
In this work, laboratory experiment was conducted in order to evaluate the effect of feedback on decision-making under uncertainty, with and without provided information about travel times. We discuss the prediction of travelers’ response to uncertainty in two route–choice situations. In the first situation travelers are faced with a route–choice problem in which travel times are uncertain but some external information about routes’ travel times is provided. The second situation takes place in a more uncertain environment in which external information about travel times is not provided, and the travelers’ only source of information is their own experience. Experimental results are in conflict with the paradigm about traveler information systems: As a consequence of information, the propensity of travelers to minimize expected travel time is not necessarily increased. Providing travelers with static information about expected travel times reveals an increase in the heterogeneity of travelers’ choices and reduces the maximization rate. Copyright Springer 2006
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Volume (Year): 33 (2006)
Issue (Month): 4 (07)
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References listed on IDEAS
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- Yaakov Kareev & Sharon Arnon & Reut Horwitz-Zeliger, 2002. "On the Misperception of Variability," Discussion Paper Series dp285, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
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