Travel route choice model based on regret theory

Baohui Jin

COMPUTER MODELLING & NEW TECHNOLOGIES 2014 18(4) 158-163

College of Transportation & Logistics, Southwest Jiaotong University, North 1st section of 2nd Ring Road 111, 610031 Chengdu, China

Travel route choice behaviour research is a hot issue in the field of urban traffic planning, and it mainly researches the traveller’s route choice decisions under uncertainty conditions, which theory includes such as expected utility theory, prospect theory, and regret theory. Based on the analysis of expected utility theory and prospect theory’s applicable condition and the insufficiency, this paper establishes a travel route choice model according to regret theory. Study shows that people always try to avoid occur that other options is better than that selected option, and the properties of selected option cannot be replaced each other, which fits regret minimization of regret theory. The travel route choice model based on regret theory is simpler than others, and it is suitable for describing traveller’s route choice behaviour under uncertainty conditions.