A model of risk-sensitive route-choice behaviour and the potential benefit of route guidance
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.
Record created on 2011-02-07, modified on 2017-02-16