Travel time variability and rational inattention

Research output: Working paperResearch

This paper sets up a rational inattention model for the choice of departure time for a traveler facing random travel time. The traveler chooses how much information to acquire about the travel time out-come before choosing departure time. This reduces the cost of travel time variability compared to models in which the information is exogenously fixed.
Original languageEnglish
Number of pages25
Publication statusPublished - 2017
SeriesUniversity of Copenhagen. Institute of Economics. Discussion Papers (Online)
Number17-21
ISSN1601-2461

    Research areas

  • Faculty of Social Sciences - rational inattention, random travel time variability, value of reliability, discrete choice, D1, D8, R4

ID: 190435380