Route choice, travel time variability, and rational inattention
نویسندگان
چکیده
منابع مشابه
Travel time variability and rational inattention
This paper sets up a rational inattention model for the choice of departure time for a traveler facing random travel time. The traveler chooses how much information to acquire about the travel time outcome before choosing departure time. This reduces the cost of travel time variability compared to models in which the information is exogenously fixed .
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This paper establishes a general equivalence between discrete choice and rational inattention models. Matejka and McKay (2015, AER) showed that when information costs are modelled using the Shannon entropy function, the resulting choice probabilities in the rational inattention model take the multinomial logit form. By exploiting convex-analytic properties of the discrete choice model, we show ...
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We unite two of the most common approaches to modelling limited attention in choice by showing that the rational inattention model (Sims [2003]) implies the formation of consideration sets —only a subset of the available alternatives will be considered for choice. We provide a new set of necessary and suffi cient conditions for rationally inattentive behavior which allow the identification of c...
متن کاملA micro-simulation model system of departure time and route choice under travel time uncertainty
Existing microscopic traffic models have often neglected departure time change as a possible response to congestion. In addition, they lack a formal model of how travellers base their daily travel decisions on the accumulated experience gathered from repetitively travelling through the transport network. This paper proposes an approach to account for these shortcomings. A micro-simulation appro...
متن کاملUncovering the contribution of travel time reliability to dynamic route choice using real-time loop data
Travel time reliability has generally been surmised to be an important attribute of transportation systems. In this paper, we study the contribution of travel time reliability in travelers’ route choice decisions. Traveler’s route choice is formulated as a mixed-logit model, with the coefficients in the model representing individual traveler’s preferences or tastes towards travel time, reliabil...
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ژورنال
عنوان ژورنال: Transportation Research Procedia
سال: 2019
ISSN: 2352-1465
DOI: 10.1016/j.trpro.2019.05.026