Waiting time and the role and value of information in scheduled transport

A new logit-based model for assigning public transit passengers to transit lines or routes is proposed. The model is based on the realistic assumption that once passengers arrive at stops, they can obtain information regarding the specific departure times. Furthermore, it takes into account that passengers are heterogeneous and hence, the choice made by a 'representative' passenger appears to be stochastic. The model is evaluated by means of simulations.