CONSIDERING TRAVELERS' RISK-TAKING BEHAVIOR IN DYNAMIC TRAFFIC ASSIGNMENT

Dynamic traffic assignment (DTA) has been a topic of substantial research during the past decade and the DTA models offer the potential to support effective evaluation and operation Advanced Transportation Management Systems (ATMS) and Advanced Transportation Information Systems (ATIS). The model presented in this paper is a stochastic dynamic user optimal model based on a stochastic dynamic network. The assumption is that route travel times are variable and perceived as such by travelers at each time instant. Route choices are assumed to be made with the objective of minimizing perceived disutilities at each time. These perceived disutilities depend on the distribution of the variable route travel times, the distribution of individual perception errors and the individual traveler's risk taking nature at each time.