A Reliability-Based Traffic Equilibrium Model with Boundedly Rational Travelers Considering Acceptable Arrival Thresholds

Liang Wang (), Lei Zhao, Xiaojian Hu, Xinyong Zhao and Huan Wang
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Liang Wang: School of Transportation, Southeast University, Nanjing 211189, China
Lei Zhao: Hualu Yiyun Technology Co., Ltd., Nanjing 211800, China
Xiaojian Hu: School of Transportation, Southeast University, Nanjing 211189, China
Xinyong Zhao: Hualu Yiyun Technology Co., Ltd., Nanjing 211800, China
Huan Wang: Hualu Yiyun Technology Co., Ltd., Nanjing 211800, China

Sustainability, 2023, vol. 15, issue 8, 1-19

Abstract: This paper examines the effects of boundedly rational decision characteristics on travelers’ route choice behavior. The concept of boundedly rational confidence level (BRCL) is redefined, which is the probability that a trip arrives between the acceptable earliest arrival time and the acceptable latest arrival time on the shortest travel time budget (TTB). Mathematically, the acceptable boundedly rational arrival thresholds are proposed. Then, a reliability-based boundedly rational traffic equilibrium model (R-BRTE) considering both travel time reliability and acceptable arrival thresholds is developed. Moreover, the equivalent variational inequality problem and uniqueness of solution on the proposed model are proved. A route-based solution algorithm is used to solve the proposed R-BRTE model. Numerical results present the important decision ideas of the proposed model. The results demonstrate that travelers’ bounded rationality has a great impact on their route choice behavior and network performance.

Keywords: traffic equilibrium model; travel time budget; travel time reliability; boundedly rational confidence level; acceptable arrival threshold (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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