The study found that for riders without real-time information, perceived wait time is greater than measured wait time. However, riders using real-time information do not perceive their wait time to be longer than their measured wait time. This is substantiated by the typical wait times that riders report. Real-time information users say that their average wait time is 7.5 min versus 9.9 min for those using traditional arrival information, a difference of about 30%. A model to predict the perceived wait time of bus riders was developed, with significant variables that include the measured wait time, an indicator variable for real-time information, an indicator variable for PM peak period, the bus frequency in buses per hour, and a self-reported typical aggravation level. The addition of real-time information decreases the perceived wait time by 0.7 min (about 13%).