Cumulative prospect theory-based user equilibrium model with stochastic perception errors

The cumulative prospect theory (CPT) is applied to study travelers’ route choice behavior in a degradable transport network. A cumulative prospect theory-based user equilibrium (CPT-UE) model considering stochastic perception error (SPE) within travelers’ route choice decision process is developed. The SPE is conditionally dependent on the actual travel time distribution, which is different from the deterministic perception error used in the traditional logit-based stochastic user equilibrium. The CPT-UE model is formulated as a variational inequality problem and solved by a heuristic solution algorithm. Numerical examples are provided to illustrate the application of the proposed model and efficiency of the solution algorithm. The effects of SPE on the reference point determination, cumulative prospect value estimation, route choice decision and network performance evaluation are investigated.