Illenberger, J., Flötteröd, G., and Nagel, K. (2011)
A model of risk-sensitive route-choice behaviour and the potential benefit of route guidance, IEEE Transactions on Intelligent Transportation Systems 12(2):384-389.
In this paper, we present a simulation-based investigation of the potential benefit of route-guidance information in the context of risk-sensitive travelers. We set up a simple two-route scenario where travelers are repeatedly faced with risky route-choice decisions. The risk averseness of the travelers is implicitly controlled through a generic utility function. We vary both the travelers' sensitivity toward risk and the equipment fraction with route-guidance devices and show that the benefits of guided travelers increase with their sensitivity toward risk.
doi:10.1109/TITS.2011.2105266 (click here for the full paper)