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Bounded Rationality in Dynamic Traffic Assignment

Bounded Rational Choice Behaviour: Applications in Transport

ISBN: 978-1-78441-072-8, eISBN: 978-1-78441-071-1

Publication date: 31 January 2015

Abstract

Originality and value

Based on artificially intelligent agents, learning and search theory and bounded rationality, this chapter makes an effort to embed a sound theoretical foundation for the computational process approach and agent-based micro-simulations. A pertinent new theory is proposed with experimental observations and estimations to demonstrate agents with systematic deviations from the rationality paradigm. Procedural and multidimensional decision-making are modelled. The numerical experiment highlights the capabilities of the proposed theory in estimating rich behavioural dynamics.

Keywords

Citation

Szeto, W., Wang, Y. and Han, K. (2015), "Bounded Rationality in Dynamic Traffic Assignment", Rasouli, S. and Timmermans, H. (Ed.) Bounded Rational Choice Behaviour: Applications in Transport, Emerald Group Publishing Limited, Bingley, pp. 163-187. https://doi.org/10.1108/978-1-78441-072-820151016

Publisher

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Emerald Group Publishing Limited

Copyright © 2015 Emerald Group Publishing Limited