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Scheduling choices under rank dependent utility maximization
KTH, School of Architecture and the Built Environment (ABE), Transport Science, Transport and Location Analysis.
KTH, School of Architecture and the Built Environment (ABE), Transport Science, Transport and Location Analysis.ORCID iD: 0000-0001-5290-6101
KTH, School of Architecture and the Built Environment (ABE), Transport Science, Transport and Location Analysis.
2014 (English)In: Transportation: Can we do more with less resources? – 16th Meeting of the Euro Working Group on Transportation – Porto 2013, Elsevier, 2014, 301-310 p.Conference paper, Published paper (Refereed)
Abstract [en]

Scheduling preferences, derived under the assumption of expected utility maximization, can be used for measuring the value of travel time variability. As an alternative to the expected utility maximization, the rank dependent utility is chosen in this paper. Considering a flexible probability weighting for ranked outcomes, two frequently applied scheduling models are derived and estimated on a data set with specific travel time distributions. Optimistic respondents are observed. Allowing for heterogeneity of scheduling preferences improves the model performance significantly. We also found evidence for valuing excessive travel time, which is not included in the traditional scheduling model specifications.

Place, publisher, year, edition, pages
Elsevier, 2014. 301-310 p.
Series
Procedia Social and Behavioral Sciences, ISSN 1877-0428 ; 111
Keyword [en]
Rank dependnent utility, probability weighting, scheduling model, value of travel time variability
National Category
Transport Systems and Logistics
Identifiers
URN: urn:nbn:se:kth:diva-146588DOI: 10.1016/j.sbspro.2014.01.063ISI: 000335582500031OAI: oai:DiVA.org:kth-146588DiVA: diva2:724676
Conference
16th Meeting of the Euro-Working-Group-in-Transportation, SEP, 2013, Porto, Portugal
Note

QC 20140613

Available from: 2014-06-13 Created: 2014-06-12 Last updated: 2014-06-13Bibliographically approved

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Karlström, Anders

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
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