A User Equilibrium Model Based on Cumulative Prospect Theory for Degradable Transport Network

This paper establishes a user equilibrium model based on cumulative prospect theory (CPT) for degradable transport network and shows the existence of the equilibrium solution. By encapsulating endogenous reference points into the CPT-based user equilibrium conditions, it makes the model much closer to reality. The numerical test is conducted in study to analyze the difference of traveler´s route choice behaviors based on expected utility theory (EUT) and CPT, respectively, which finds that CPT is superior to EUT in terms of describing traveler´s decision-making processes. The paper also analyzes the properties of the model with respect to related parameters.