A Travel Mode Choice Study Based On Cumulative Prospect Theory Under The Policy Of Congestion Charging

With the rapid advance of urbanization and urban road motor vehicle increases, thedisease of traffic congestion affects city from country to country. The policy of congestioncharging as a good strategy to solve traffic congestion is coming into our field of visiongradually. With the policy of congestion charging to be implemented and the travel cost risingeveryday, it affected people’s mode choice behavior.Travelers can consider multiple factorsin choosing their travel mode. The factors mainly include the income level and travel time andtravel cost, also include the travel comfort and so on. Then make decisions to choose the besttravel mode to complete travel. This article is different from previous models which onlyanalyzes the factors of travel time. In this paper, multiple factors which conclude income leveland travel time and travel cost and the travel comfort are used to analyze the traveler’s travelmode choice behavior under congestion charging.In this paper, travelers are divided into high income level,middle-income levels and lowincome levels three groups. Under the premise of traveler’s travel mode behavior psychology,this paper analyzed the factors affecting travel mode choice. After the analysis of theimplementation of congestion pricing policy, this paper analysis travelers travel mode choicebehavior changes. As well as different fees for the impact of high, medium and low-leveltravelers.Then, this paper presented the background and its core theory of cumulative prospecttheory provides an overview and analysis of the study focuses on the status of the cumulativeprospect theory and its combination with the travel mode choice model has been studied. Thispaper defines the generalized traveling cost. The traveler set the generalized travel cost asreference point of the model in this paper. Combined with the generalized travel cost modeland the theoretical model of the cumulative prospect theory framework. In the paper,it isconcluded that the value of the model function and decision weighting function. The final wayto travel choice model is set up.Finally, three practical examples of actual road network and data center district ofShenzhen city are designed test the suitability and effectiveness of the model.Select fromdifferent fees affect the behavior of high-income people to travel, different fees for middle-income people travel mode choice behavior and the impact of different chargingstandards for low-income people travel mode choice behavior of three levels of study analysisAnd examples of calculations based on cumulative prospect theory framework model, thecalculated results with the established selection model based on expected utility theory way totravel comparative analysis of the results.The results indicate that travelers will change theirtravel mode when the government collect a certain amount of congestion charge. Low andmiddle income travelers change their travel mode when respectively the congestion tollcharged2yuan and3yuan. While the high income travelers will change their travel modewhen the congestion toll increases to6yuan. As the congestion charge are different, differentincome levels travelers’ travel mode choice affected differently. Setting the proper congestioncharging during peak hours can make people change their travel mode, reduce car travel, thusit can help ease the traffic congestion.