Browse > Article

Effect of uncertain information on drivers' decision making (Application of Prospect Theory)  

CHO, Hye-Jin (한국건설기술연구원)
KIM, Kang-Soo (교통개발연구원)
Publication Information
Journal of Korean Society of Transportation / v.21, no.1, 2003 , pp. 77-90 More about this Journal
Abstract
This paper explores the way and the extent to which drivers' route choice was influenced by uncertain information. In particular, this paper investigates the effect of qualitative information on route choice when drivers face a choice with different degrees of uncertain information. The SP survey was conducted and route choice legit models were estimated. We also applied Prospect Theory to the analysis of drivers' decision making under uncertain information. The main findings are firstly, drivers tend to prefer a route with information than(to) one without information. This indicated that providing charge information encouraged drivers to choose the routes for which information is provided in preference to those for which it is not provided. Secondly, drivers also prefer a route with a certain and precise information over one with uncertain and imprecise information. Thirdly, when the information is given as a range, the size of the range of the information influenced route choice slightly and as the range of the charge increases, the route becomes slightly less unattractive. Fourthly, when the information is given as a range, drivers' route choices are influenced more by the median value of the ranges than by the size of the overall ranges of the information. Application of Prospect Theory to the results explains the way drivers may be interpreting the choice situation and how they make a route choice in response to uncertain information. The results of this paper implicate that drivers' decision making under uncertainty seem to be very complicated and flexible, depending on the way drivers interpret the choice situation. Therefore, it is recommended to apply wider related theories to the analysis of the drivers' behaviour.
Keywords
SP;
Citations & Related Records
연도 인용수 순위
  • Reference
1 Commuter's Attitudes toward Traffic Information Systems and Route Diversion /
[ Shirazi,E.;Anderson,S.;Stesney,J. ] / Transportation Research Record, 1168
2 /
[ Pearman,D.;Kroes,E. ] / Stated Preference Techniques - A guide to Practice
3 Behavioural Issues in the Design and Evaluation of Advanced Traveler Information Systems /
[ Schofer,J.L.;Khattak,A.;Koppelman,F.S. ] / Transpn. Res.-C.   DOI   ScienceOn
4 Route Choice Responses to Variable Road User Charges and Traffic Information /
[ Cho,H.J. ] / University of Leeds, Ph.D. thesis
5 /
[ Fellner,W. ] / Probability and Profit - A Study of Economic Behaviour Along Bayesian Lines
6 Driver Compliance with Route Guidance Advice: The Evidence and Its Implications /
[ Bonsall,P.W.;Joint,M. ] / Vehicle Navigation & Information Systems Conference Proceedings (VNIS)
7 /
[ Bell,D.E.;Raiffa,H.;Tversky,A. ] / Decision Making : Descriptive, Normative, and Prescriptive interactions
8 Modelling Drivers' Route Choice Behaviour in the Context of Route Guidance and Information Systems /
[ Bonsall,P.W. ] / Proceeding of the first world congress on applications of transport telematics and intelligent vehicle-highway systems, palis de congress de paris
9 Some human factors design issues and recommendations for automobile navigation information systems /
[ Dingus,T.A.;Hulse,M.C. ] / Transpn.Res.-C.   DOI   ScienceOn
10 Prospect Theory: an Analysis of Decision Under Risk /
[ Kahneman,D.;Tversky,A. ] / Econometrica   DOI   ScienceOn
11 /
[ Markowitz,H. ] / Portfolio Selection
12 London Congestion Charging: Exploratory Social Research Among London Residents /
[ Sheldon,R.;Jones,P. ] / PTRC
13 Subjective Probabilities Infered from Decision /
[ Edwards,W. ] / Phychological Review
14 Influence of Traffic Information on Drivers' Route Choice /
[ Hato,E.;Taniguchi,M.;Sugie,Y. ] / WCTR
15 /
[ Schoemaker,P.J.H. ] / Experiments on Decisions Under Risk: The Expected Utility Hypothesis
16 A SP Model For Route Choice Behavior In Response To Travel Time Information with Marginal Errors /
[ Zhao,S.;Muromachi,Y.;Harata,N.;Ohta,A. ] / WCTR
17 The Influence of Route Guidance Advice on Route Choice in Urban Networks /
[ Bonsall,P.W. ] / Transportation   DOI
18 Stated Preference Analysis of Driver Route Choice Reaction To Variable Message Sign Information /
[ Wardman,M.;Bonsall,P.W.;Shires,J. ] / Institute for Transport Studies, Working Paper 475