This paper aims to study the effects of travel information provision on risk-averse travelers when travel time is uncertain. A stochastic bottleneck model is examined with risk-averse commuters, in which the free-flow travel time is assumed to be uncertain and follows a uniform distribution. A mean-variance approach is adopted to measure the travel cost under risk. It is proven that the individual travel cost at bottleneck equilibrium monotonically increases with the risk-aversion level. With a higher risk-aversion level, the morning peak hour starts earlier, but the duration of the peak hour remains constant regardless of the risk-aversion level. If improvement in information quality can reduce the travel time uncertainty, risk-averse commuters will benefit from the higher quality of information. Nevertheless, when the cost of information provision is also considered, the optimal information provision strategy is derived to minimize the total system cost. The numerical examples demonstrate the information efficiency and provision strategy. The findings reveal the congestion patterns of a stochastic bottleneck with risk-averse travelers and will guide us to provide appropriate travel information.


    Zugriff

    Download

    Verfügbarkeit in meiner Bibliothek prüfen

    Bestellung bei Subito €


    Exportieren, teilen und zitieren



    Titel :

    Optimal Information Provision at Bottleneck Equilibrium with Risk-Averse Travelers


    Weitere Titelangaben:

    Transportation Research Record: Journal of the Transportation Research Board


    Beteiligte:
    Liu, Peng (Autor:in) / Liu, Yang (Autor:in)


    Erscheinungsdatum :

    11.11.2018




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Elektronische Ressource


    Sprache :

    Englisch



    A Reliability-Based Network Equilibrium Model with Adaptive Risk-Averse Travelers

    Lei Zhao / Hongzhi Guan / Junze Zhu et al. | DOAJ | 2018

    Freier Zugriff

    Adaptive vehicle routing for risk-averse travelers

    Xiao, Lin | Online Contents | 2013


    Equilibria and Information Provision in Risky Networks with Risk-Averse Drivers

    de Palma, A. / Picard, N. | British Library Online Contents | 2006



    An Optimal Path Model for the Risk-Averse Traveler

    Zhang, Leilei | Online Contents | 2017