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A behavioral economic perspective on demand responsive transportation

Year: 2024
Type: article
Abstract: In this article, a utility function framework is developed, serving to determine the demand for an upcoming demand responsive transportation system. A linear’public-good game’ (PGG) model is modified in a way that maximizing the consumer surplus is assumed to determine individual decision-making. This modification allows for considering the endowment effect in the function, which is expected to enable for a more precise distinction among customer segments. The purpose of this approach is to create a possibility for including descriptive behavioral economic findings in a normative modeling concept. It shall serve as a theoretical basis for coming empirical investigations.
DOI: 10.1016/j.trip.2024.101176
Authors: Aljoscha Minnich, Heiko Herbst, Stephan Herminghaus, Thomas Kneib, Benjamin Wacker, Jan Christian Schlüter
Institutions: Max Planck Institute for Dynamics and Self-Organization, University of Göttingen, Merseburg University of Applied Sciences, University of Applied Sciences and Arts Hildesheim/Holzminden/Göttingen, Fakultät Verkehrswissenschaften "Friedrich List", Technische Universität Dresden
Language: English
Open Access status: gold
Estimated APC paid: $1,640
OpenAlex ID: W4402370725
FWCI: 0.108
Cites: 27
Cited by: 1
Related to: 10