The proposed research is to provide analytical foundations and methodologies for design and analysis of congestion pricing strategies for transportation networks under a more convincing behavioral assumption, i.e., travelers are boundedly rational. For over 80 years, the literature on congestion pricing has been relying on the assumption that travelers are perfectly (or unboundedly) rational and always choose routes with the shortest length or the least cost to reach their destinations in order to maximize their utility. Although technically convenient, this assumption implies that travelers would always switch to a shorter route regardless of the amount of saving. While (i) there is abundant empirical evidence that travelers are boundedly rational and switch to a shortest route only when the amount of saving is sufficiently large, (ii) identifying a truly shortest route, when possible, is costly, and (iii) the assumption is simply unconvincing, the postulate of perfect rationality still dominates the transportation literature. This proposal attempts to relax this dominance by proposing models for congestion pricing that allow for bounded rationality.


    Access

    Access via TIB

    Check availability in my library


    Export, share and cite



    Title :

    Robust Congestion Pricing under Boundedly Rational Travel Behaviors. Final Report to the Center for Multimodal Solutions for Congestion Mitigation (CMS)


    Contributors:
    Y. Lou (author) / Y. Yin (author) / S. Lawphongpanich (author)

    Publication date :

    2010


    Size :

    65 pages


    Type of media :

    Report


    Type of material :

    No indication


    Language :

    English