Travel time variability and rational inattention

Mogens Fosgerau and Gege Jiang
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Gege Jiang: Department of Economics, Hong Kong University of Science and Technology

No 17-21, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: This paper sets up a rational inattention model for the choice of departure time for a traveler facing random travel time. The traveler chooses how much information to acquire about the travel time out-come before choosing departure time. This reduces the cost of travel time variability compared to models in which the information is exogenously fixed .

Keywords: rational inattention; random travel time variability; value of reliability; discrete choice (search for similar items in EconPapers)
JEL-codes: D1 D8 R4 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2017-09-26
New Economics Papers: this item is included in nep-mic, nep-tre and nep-ure
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http://www.econ.ku.dk/english/research/publications/wp/dp_2017/1721.pdf (application/pdf)

Related works:
Journal Article: Travel time variability and rational inattention (2019)
Working Paper: Travel time variability and rational inattention (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:1721

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