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A reference-dependent user equilibrium model for activity-travel scheduling

Author

Listed:
  • Qing Li

    (Nanjing University
    Eindhoven University of Technology)

  • Feixiong Liao

    (Eindhoven University of Technology)

  • Harry J. P. Timmermans

    (Eindhoven University of Technology)

  • Jing Zhou

    (Nanjing University)

Abstract

Existing user equilibrium models of activity-travel scheduling generally fall short in representing travelers’ decision-making processes. The majority have either implicitly or explicitly assumed that travelers follow the principle of utility maximization. This assumption ignores the fact that individuals may be loss–averse when making activity-travel decisions. Allowing for the situation that travelers possess accurate information of the urban-transportation system due to modern technologies, studies on reference-dependent decision-making under near-perfect information are receiving increasing attention. In view of traveler heterogeneity, individuals can be divided into multiple classes according to their reference points. In this paper, we propose a reference-dependent multi-class user equilibrium model for activity-travel scheduling, which can be reformulated as a variational inequality problem. Moreover, comparative analyses are conducted on the equilibrium states between utility-maximization (no reference) and reference-dependency of exogenous and endogenous references. A numerical example regarding combined departure-time and mode choice for commuting is conducted to illustrate the proposed model. The simulated results indicate that reference points and loss aversion attitudes have significant effects on the choice of departure time and mode.

Suggested Citation

  • Qing Li & Feixiong Liao & Harry J. P. Timmermans & Jing Zhou, 2016. "A reference-dependent user equilibrium model for activity-travel scheduling," Transportation, Springer, vol. 43(6), pages 1061-1077, November.
    • Handle: RePEc:kap:transp:v:43:y:2016:i:6:d:10.1007_s11116-016-9725-3
    DOI: 10.1007/s11116-016-9725-3
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    References listed on IDEAS

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