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

Document Type

Journal Article

Publication Date

2022

Subject Area

ridership - mode choice, ridership - attitudes, ridership - perceptions, ridership - modelling

Keywords

Travel choice under uncertainty, Source preference, Ambiguity seeking, Experience conditioning, Travel time variability

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.

Rights

Permission to publish the abstract has been given by Elsevier, copyright remains with them.

Comments

Transportation Research Part E Home Page:

http://www.sciencedirect.com/science/journal/13665545

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