Arbeitspapier
The Economics of Information in Transport
Travelers often are incompletely informed about travel alternatives, which has important implications for various domains of travel behavior such as whether or not to make a trip, modal choice, the timing of a trip or route choice. During the last decade large efforts have been made to increase the availability of information to travelers by means of advanced traveler information systems (ATIS). This paper reviews economic aspects of information in transport markets. First, I will discuss information acquisition from an economics perspective by characterizing costs and benefits of information, leading to the formulation of optimal strategies to acquire information. This will be done in the context of search strategies leading to sequential information acquisition. I further discuss the broader consequences of information acquisition on the functioning of transport networks. In congested networks, when travelers change their behavior on the basis of information they obtain, this will have consequences not only for their own travel times, but also those of other travelers. This leads to interesting positive (and possibly negative) spillovers having important policy implications. The next step is the analysis of a traveler's choice whether to adopt advanced traveler information systems, implying the derivation of a demand function for information.
- Language
-
Englisch
- Bibliographic citation
-
Series: Tinbergen Institute Discussion Paper ; No. 10-110/3
- Classification
-
Wirtschaft
Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Information and Internet Services; Computer Software
- Subject
-
Information
ATIS
uncertainty
- Event
-
Geistige Schöpfung
- (who)
-
Rietveld, Piet
- Event
-
Veröffentlichung
- (who)
-
Tinbergen Institute
- (where)
-
Amsterdam and Rotterdam
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Rietveld, Piet
- Tinbergen Institute
Time of origin
- 2010
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