The document discusses modal choice decision making by travelers and limitations of traditional forecasting models based on Homo Economicus. It argues that models need to account for Homer Sapiens decision making which considers emotions and social factors over pure rationality. Specifically, models must account for the increasing options and variable pricing, known choice biases, different perceptions of money, and effects of seemingly free options. Improving forecasting requires recognizing these behavioral complexities, using complementary models, and exploiting abundant new sources of data.

1. MODAL CHOICE DECISION MAKING BY TRAVELLERS Embracing changing behaviour in a world of exploding information on options and ever changing prices : a forecasting perspective Luis Willumsen

7. THERE IS ALSO A PROBLEM WITH MONEY...

10. SANTIAGO TOLL ROADS 5 + 1 concessions All with three level pricing: 6/12/18 US cents/km Interoperable tags ~ 1.2 million tags in 2006 Full toll collection started January 2005 Santiago ETC urban system

11. CONGESTION CHARGING IN SANTIAGO Objective: free-flow road SANTIAGO TOLL ROADS

12. EXAMPLE OF EXPECTED CHARGING SCHEDULE Simplified Price Structure (changes in 30 mins intervals)

13. PLUS, A COUPLE OF COMPLEXITIES FROM BEHAVIOURAL ECONOMICS...

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