01478438

Component

This study integrates the concepts of relative utility and prospect to represent the context dependence in travel choice behavior by incorporating asymmetric and non-linear responses. Relative utility argues that utility is only meaningful relative to some reference point(s) and it conceptually allows the existence of multiple reference points in a systematic way. Prospect theory argues that people's decisions tend to be more sensitive to losses than to gains, where gains and losses are defined with respect to a reference point, but it has not been concerned about how to specify the reference point(s). On the other hand, even though the concept of relative utility could accommodate nonlinear utility structures, no study has been done to capture the non-linearity caused by people's asymmetric responses to gains and losses. Theoretically, the integrated model can be used to express various types of context dependencies. The effectiveness of the integrated model is confirmed using a stated preference data with 1,872 samples on the joint choice of departure time and driving route under the provision of dynamic travel information, collected in Beijing of China in May 2008. Sensitivity of the model performance to different values of prospect parameters is also analyzed. Influential factors to the choice behavior are also explored.

This paper was sponsored by TRB committee ADB10 Traveler Behavior and Values.

01470560

13-3508

English

22p

2013

Transportation Research Board 92nd Annual Meeting

Digital/other

Figures; References; Tables

Advanced traveler information systems; Departure time; Route choice; Sensitivity analysis; Stated preferences; Utility theory

Contextual conditions; Prospect theory

Beijing (China)

Planning and Forecasting; Transportation (General); I72: Traffic and Transport Planning

Transportation Research Board Annual Meeting 2013 Paper #13-3508

TRIS, TRB, ATRI

Feb 5 2013 12:42PM