Abstract Although many individual route choice models have been proposed to incorporate travel time variability as a decision factor, they are typically still deterministic in the sense that the optimal strategy requires choosing one particular route that maximizes utility. In contrast, this study introduces an individual route choice model where choosing a portfolio of routes instead of a single route is the best strategy for a rational traveler who cares about both journey time and lateness when facing stochastic network conditions. The proposed model is compared with UE and SUE models and the difference in both behavioral foundation and model characteristics is highlighted. A numerical example is introduced to demonstrate how such model can be used in traffic assignment problem. The model is then tested with GPS data collected in metropolitan Minneapolis–St. Paul, Minnesota. Our data suggest there is no single dominant route (defined here as a route with the shortest travel time for a 15day period) in 18% of cases when links travel times are correlated. This paper demonstrates that choosing a portfolio of routes could be the rational choice of a traveler who wants to optimize route decisions under variability.


    Zugriff

    Zugriff prüfen

    Verfügbarkeit in meiner Bibliothek prüfen

    Bestellung bei Subito €


    Exportieren, teilen und zitieren



    Titel :

    A portfolio theory of route choice


    Beteiligte:
    Levinson, David (Autor:in) / Zhu, Shanjiang (Autor:in)


    Erscheinungsdatum :

    2013-03-02


    Format / Umfang :

    12 pages




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Elektronische Ressource


    Sprache :

    Englisch




    A portfolio theory of route choice

    Levinson, David | Online Contents | 2013



    A spatial portfolio theory of household location choice

    Yiu, Chung Yim | Online Contents | 2011


    Vessel Route Choice Theory and Modeling

    Shu, Yaqing / Daamen, Winnie / Ligteringen, Han et al. | Transportation Research Record | 2015


    Vessel Route Choice Theory and Modeling

    Shu, Yaqing | Online Contents | 2015