Mean-Risk Traffic Assignment Under the Continuously Distributed Risk-Aversion Factor

View at publisher
Authors: Zhandong Xu, Zhengyang Li, Jun Xie, Anthony Chen, Xiaobo Liu
Cited by: 2
References: 56

Abstract

From Discrete to Continuum: Risk Preference Heterogeneity in Traffic Equilibrium How do travelers with heterogeneous risk preferences choose routes in congested networks with uncertain travel times? Conventional models characterize risk preference heterogeneity using a small number of discrete user classes. In “Mean-Risk Traffic Assignment Under the Continuously Distributed Risk-Aversion Factor,” Xu, Li, Xie, Chen, and Liu develop a new traffic equilibrium framework that directly accommodates a continuous distribution of risk aversion. The resulting model generalizes the classical Wardrop equilibrium to settings with both stochastic travel times and continuous preference heterogeneity, providing a more refined representation of real-world routing behavior. This study demonstrates that the continuous approach outperforms the discrete approach by not only eliminating the inherent discretization bias—that can mislead infrastructure investment decisions—but also delivers superior computational performance, requiring less run time and memory. More broadly, the framework could be potentially applied to a wide range of biobjective congestion routing games where user preferences are continuously distributed.

Fields of Study & Subjects

Transportation Planning and Optimization Game Theory and Applications Traffic control and management

Publication details

Journal / source
Operations Research
Publisher
Institute for Operations Research and the Management Sciences (INFORMS)
Volume
74
Issue
3
Pages
1263–1283
Publication date
10 February 2026
Language
EN