Travel choice behaviour under uncertainty in real-market settings: A source-dependent utility approach

Zheng Li, David Hensher and Jingjing Zeng

Transportation Research Part E: Logistics and Transportation Review, 2022, vol. 168, issue C

Abstract: In this study, we present evidence on the source-preference difference between two natural sources of uncertainty with mode-specific travel time variability (public transport vs private car), while accounting for the role of experiential information in shaping the revealed ambiguity seeking in the context of travel mode choice. The proposed structural model jointly accounts for time-money trade-offs, diminishing sensitivity towards travel outcomes, perceptual conditioning, beliefs and ambiguity attitudes. We find that in the loss domain with possible travel time outcomes, decision makers may prefer more volatile travel time variability embedded in public transport systems, and with more experiential information, this preference would become stronger.

Keywords: Travel choice under uncertainty; Source preference; Ambiguity seeking; Experience conditioning; Travel time variability (search for similar items in EconPapers)
JEL-codes: D81 R41 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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DOI: 10.1016/j.tre.2022.102962

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