![Sample our Economics, Finance,Business & Industry journals, sign in here to start your access, latest two full volumes FREE to you for 14 days]({"type":"image" , "src" : "/sda/5931/TOC-Subject-Sample-2021-Economics-Finance-Business-Industry.jpg"})
ABSTRACT
In contrast to a large number of studies in the route choice behavior with absolute bounded rationality, little concern is laid on that with relative bounded rationality which is hypothetically suggested in this paper and can also be an indispensable component of the bounded rationality. This study is conducted to investigate travelers’ day-to-day rerouting behaviors with the above two bounded rationalities. Along this line, an absolute and a relative boundedly rational swapping process (abbreviated as ABRSP and RBRSP, respectively) model are proposed in the frame of nonlinear pairwise swapping rule. It is found that both ABRSP and RBRSP show satisfactory properties. The numerical results suggest that ABRSP and RBRSP share some general similarity in macroscopic convergence, while still showing obvious distinctions in swapping process, and RBRSP cannot be approximated or substituted by ABRSP or its extensions. Therefore, the suggested relative bounded rationality, even if it is hypothetical, still deserves to be taken seriously.
Acknowledgements
The authors are grateful to the three anonymous referees for their constructive comments and suggestions to improve the quality of this paper. This work was jointly funded by the National Natural Science Foundation of China (Grant Nos. 71601015, 71471014, 71501009), and the Fundamental Research Funds for the Central Universities (Grant No. 2016RC049).
Disclosure statement
No potential conflict of interest was reported by the authors.