Dynamic Model Research of Departure Time and Route Choice Based on Prospect Theory

Abstract:

This paper takes commuters’ daily travel as research object to build model of travel choice which contains departure time and travel route based on Prospect Theory. Choosing the time of arriving destination as reference point, commuter will choose the time at which he/she can obtain the maximum value as departure time, then establishes choice model of departure time. Using Bayesian Theory to update and adjust route’s forecasting travel time in light of traffic information provided by Advanced Traveler Information Systems (ATIS) and travelers’ previous experience information. Gets decision weighting function after having analyzed traveler’s individual subjective probability which is about the possible result for route choice, then obtains the expression of travel route’s prospect value and gets route choice model. Finally, by designing a network to analyze the dynamic choice model, and achieves expected effect.

• Periodical: Advanced Materials Research (Volumes 243-249)
• Pages: 4418-4421
• DOI: https://doi.org/10.4028/www.scientific.net/AMR.243-249.4418
• Online since: May 2011
• Authors: Zhi Yong Yang, Gui Yun Yan
• Keywords: Departure Time, Dynamic Model, Prospect Theory, Real-Time Information, Route Choice

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