Nested Logit Model of Elderly Travel Mode Choice Based on Boundedly Rationality

To study the travel mode choice behavior of the elderly group and improve the travel mode convenience and accessibility for the elderly people, this paper proposes a travel mode choice model that meets the needs of the elderly group. Based on the traditional Logit model, the nested Logit model is used to improve the assumption of maximum traveler utility in the model. Taking the elderly travel group as the research object, the model is hypothesized based on the bounded rational satisfactory decision criterion, and the indifference threshold is introduced to establish the bounded rational nested Logit model that represents the elderly travel group. Then, taking the travel mode choice strategy data of the elderly group in Nanchang city as an example, the double-nested continuous average algorithm is used to solve and analyze the model. The results show that: (1) The elderly traveler group does not always choose the transportation mode with the lowest travel cost, and its mode choice behavior is affected by their degree of rationality and travel preferences. (2) The no-difference thresholds between nests of different travel modes interact with each other and gradually stabilize the mode choice probability between nests as the no-difference threshold increases; (3) The mode choice behavior of elderly travelers is affected by their rationality and preference, and when the travel cost differential is in one of the undifferentiated intervals of whether older people are able to make limited rational judgments, the probability of choosing public transportation changes with the propensity coefficient and stabilizes gradually as the propensity coefficient increases. © 2023 Science Press. All rights reserved.