Adaptive Vehicle Routing for Risk-averse Travelers

This paper develops an adaptive navigation approach for risk-averse travelers in a stochastic network while considering on- time arrival reliability, in which travelers’ final utility is measured with the prospect theory. Instead of finding a route or a policy that simply minimizes the expected travel time or maximizes the on-time arrival reliability, this model optimizes the expected prospect of potential routing alternatives while ensuring that both the expected en route travel time and resultant on- time arrival reliability are acceptable to the traveler. Moreover, the formulation is designed to incorporate various sources of information and real time traffic states in an adaptive routing framework, offering flexibility to incorporate different information types deemed useful in future extensions.