Research On Travel Mode Choice Behavior Based On Prospect Theory

Travel choice decision problem is one of the important contents of research field of city public transportation, and travel mode choice problem is an important research object of it. At present, the main theory at home and abroad in the study of this problem is the expected utility theory which assumption the traveler as "completely rational", but actually, the objective factors often exhibit irrational travel choice behavior under the affecting the walker from own such as economic income, trip purpose, from the outside of the subjective factors such as complex network status, which contrary to the expected utility theory of the assumption of "complete rationality" and "the pursuit of utility maximization". Thus prospect theory is more realistic to describe the variation process of the actual environment travel psychology and behavior choice. Therefore, in the framework of prospect theory under the background of the construction of the trip mode choice model, which is more close to the actual reflect the travel choice behavior.This paper summarizes the way of travel behavior based on travel mode is classified and summarized their characteristics, and analyzes the trip mode choice factors from the macro and micro perspective. Constitute the framework model based on the prospect theory based on the applicability of prospect theory in travel mode choice of argumentation. During the model building, the travel time cost and monetary costs was integrated into comprehensive cost, besides, this paper introduces a concept of traveler character psychological cost. According to the relevant principles of prospect theory, determine the function of value function, weight decision model by order, finally constructed a travel mode choice model.Finally, this paper made a practical survey on a real network, application of expected utility theory and prospect theory data to construct the model of the survey were calculated respectively, and compared and the final result to actual survey results, which results of calculation results of prospect theory construction model based on expected utility theory is more close to reality. The conclusion also validates that the applicability and practicability of the application of prospect theory to the choice of travel mode.