Article ID: | iaor2012777 |
Volume: | 46 |
Issue: | 1 |
Start Page Number: | 1 |
End Page Number: | 26 |
Publication Date: | Feb 2012 |
Journal: | Transportation Science |
Authors: | Lindsey Robin, Picard Nathalie, de Palma Andr |
Keywords: | information, knowledge management, risk |
Information about traffic conditions has traditionally been conveyed to drivers via radio, variable message signs, and, more recently, the Internet and advanced traveler information systems. This has spurred research on how travelers respond to information, how much they are willing to pay for it, and how much they are likely to benefit from it collectively. In this paper, we analyze the decisions of drivers on whether to acquire information and which routes to take on simple congested road networks. Drivers vary in their degrees of risk aversion with respect to travel time. Four information regimes are considered: