Travel time variability and rational inattention

Mogens Fosgerau and Gege Jiang

MPRA Paper from University Library of Munich, Germany

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 outcome 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)
Date: 2017-10
New Economics Papers: this item is included in nep-tre, nep-upt and nep-ure
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https://mpra.ub.uni-muenchen.de/82248/1/MPRA_paper_82248.pdf original version (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:pra:mprapa:82248

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