The general traffic equilibrium problem in a stochastic network with travellers' risk aversion and inaccurate perceptions

H.M. Soroush and Talal M. Al-Khamis

International Journal of Operational Research, 2011, vol. 10, issue 1, 1-40

Abstract: We study the general traffic equilibrium problem through a stochastic network in which travellers perceive inaccurately probabilistic arc travel times and use disutility functions to evaluate path perceived travel times. The objective is to determine the arc equilibrium flows when each trip-maker travels along the perceived optimal path which minimises the perceived expected disutility. A fixed point formulation for this general problem is presented in which flows are defined through paths. The problem is difficult to solve exactly due to the non-additive path cost structure of the perceived expected disutility function. However, we introduce a solution strategy that, without requiring a complete path enumeration, can approximate the arc flows. Extensive computational experiments are performed to investigate the effects of various factors on travellers' route choice decisions, and to demonstrate that the proposed approach provides good quality flows in a very reasonable amount of time.

Keywords: stochastic networks; transportation; traffic equilibrium; risk taking; inaccurate perceptions; travellers; travel risks; risk aversion; travel times. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=37261 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijores:v:10:y:2011:i:1:p:1-40

Access Statistics for this article

More articles in International Journal of Operational Research from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().