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Psychology and the Choice of an Optimal Travel Path

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주제분류경제학

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Abstract

This paper draws attention to the psychological factors of a traveler and discusses his choice of the optimal travel path from a number of alternative routes. We assume that the psychological cost of a person traveling along a route is a function of the straight-line distance between his present position and destination. Under the `rectangular path hypothesis, we have shown, people prefer to traverse first the relatively larger segment of the path, and in case of the `triangular path they prefer a `step route. We have derived conditions explaining this behavior.

참고문헌 (5)

  1. Banerjee, "A Simple Model of Herd Behavior Quarterly Journal of Economics 107", pp.797~817 (1992)
  2. Hirshleifer, "A Theory of Fads and Cultural Change as Informational Cascades Journal of Political Economy 100", pp.992~1026 (1992)
  3. Simon, "Rationality as Process and as Product of Thought", pp.1~16 (1978)
  4. "A Law of Comparative Judgement", pp.273~286 (1927)
  5. A, "The Framing of Decisions and the Psychology of Choice", pp.453~211 458 (1981), Kahneman

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