Switching threshold of commuting Travelers’ route choice under different patterns of information

Abstract

Travelers always exhibit bounded rationality due to limited perception. Based on the theory of bounded rationality, switching thresholds under different patterns of information are analyzed in this paper. An experiment platform including four scenarios, such as historical descriptive information, real-time descriptive information, historical travel time information and real-time travel time information is designed to obtain the participants’ travel preference and route choice behavior. The relationship among route switching behavior, perceived travel time difference and travelers’ preference is analyzed based on experiment’s results. The Probit regression method is utilized for calibrating the switching threshold under different patterns of information. The results prove the dissimilarity of switching thresholds in diverse patterns of information. The switching threshold under real-time information is lower than that under historical information. The estimated results of risk parameters prove that the traveler has a slight tendency to pursue risk. The method proposed in this paper can effectively quantify the degree of bounded rationality.