Munich Personal RePEc Archive

Travel time variability and rational inattention

Fosgerau, Mogens and Jiang, Gege (2017): Travel time variability and rational inattention.

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Abstract

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 outcome before choosing departure time. This reduces the cost of travel time variability compared to models in which the information is exogenously fixed.

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