Regret-averse travelers choose safer routes, shifting traffic equilibrium for all
The article explores how people make choices about which route to take when traveling, considering factors like risk and regret. By using Regret Theory, the researchers found that people tend to avoid routes with high potential for regret, even if they are faster. Instead, they prefer routes with lower risk and more predictable travel times. This shows that both risk aversion and regret aversion play a role in determining which routes people choose when faced with uncertainty.