Abstract
In order to better describe the travel route choice behavior in uncertain environments, a travel route choice model was proposed under the conditions of real-time traffic information. Based on the cumulative prospect theory (CPT), it analyzed the psychological characteristics of travel route choice behavior. Considering the release of real-time traffic information in route, it specifically designed the principle and process of travel route choice model based on cumulative prospect theory. Additionally, it used examples to comparatively analyze the travel route choice behavior under the theory of traditional expected utility (EU), adjusted EU and CPT. The results indicated that the CPT is able to overcome many shortcomings of EU theory, so it is a better description for decision-making process of travel route choice. The release of real-time traffic information allows travelers to update travel time in real time, adjust path in route as well as realize the dynamic route guidance.
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