Podium Session 6: A Generalized Rationally Inattentive Route Choice Model with Non-uniform Marginal Information Costs
Title: A Generalized Rationally Inattentive Route Choice Model with Non-uniform Marginal Information Costs
Authors: Bo Zhou, Ronghui Liu
Abstract: Information consumes attention. In the information-rich society, a wealth of information can support decision-making, but it can also create poverty of attention to and inability to make the best use of information. This study applies the theory of rational inattention in modelling traveller’s route choice behaviour, where the attention (costs) to ...
Keywords: Route choice; Rational inattention; Non-uniform marginal information costs; Closed-form expression