Assuming that the travelers are heterogeneous in terms of their reference points, we divide the whole travelers into several classes and develop a multi-class cumulative prospect theory-based equilibrium model by incorporating such heterogeneity. The numerical results show that the travelers with lower reference points prefer to choose the routes with higher free-flow time but lower risks, while travelers with lower reference points are likely to choose the routes with lower free-flow time but higher risks. The results show that the risk parameters indeed significantly influence the resultant flow distribution. Furthermore, it is found that the higher the OD travel demand, the more serious the travelers’ risk-aversion behavior.
A Cumulative Prospect Theory-Based Network Equilibrium Model Considering Travelers’ Heterogeneous Reference Points
16th COTA International Conference of Transportation Professionals ; 2016 ; Shanghai, China
CICTP 2016 ; 1169-1180
2016-07-01
Conference paper
Electronic Resource
English
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Springer Verlag | 2024
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