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A Model of Risk-Sensitive Route-Choice Behavior and the Potential Benefit of Route Guidance

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3 Author(s)
Illenberger, J. ; Group of Transp. Syst. Planning & Transp. Telematics, Tech. Univ. Berlin, Berlin, Germany ; Flotterod, G. ; Nagel, K.

In this paper, we present a simulation-based investigation of the potential benefit of route-guidance information in the context of risk-sensitive travelers. We set up a simple two-route scenario where travelers are repeatedly faced with risky route-choice decisions. The risk averseness of the travelers is implicitly controlled through a generic utility function. We vary both the travelers' sensitivity toward risk and the equipment fraction with route-guidance devices and show that the benefits of guided travelers increase with their sensitivity toward risk.

Published in:

Intelligent Transportation Systems, IEEE Transactions on  (Volume:12 ,  Issue: 2 )