Review of route choice based on prospect theory

Abstract

In the face of the traffic system with uncertainty, people often take on the characteristics of the bounded rationality, there is a certain degree of uncertainty, the application of prospect theory has some applicability to the modeling of route choice decision behavior. This paper reviews the development course of prospect theory, then expounds the formula principle of prospect theory and the improved cumulative prospect theory, introduces the research status at home and abroad and makes a certain comb and summary.