A regret theory-based route choice model

In this paper, a regret-theory-based stochastic user equilibrium model of route choice is proposed by introducing a regret aversion parameter to reflect the regret degree of travelers. Route choice is governed by a logit formula in which the disutility of a route is codetermined by its performance and the anticipated regret experienced by comparing with other competitive routes. The proposed model is formulated as a variational inequality problem and solved by the path-based algorithm using the method of successive averages. Numerical results obtained from three example networks show that the attitude of regret aversion indeed affects the travelers’ route choice behavior and that the proposed model can more flexibly depict the choice behavior than existing models.