DYNAMIC NETWORK PRICING MODELS FOR ELASTIC DEMAND

Andy H.F. Chow

DYNAMIC NETWORK PRICING MODELS FOR ELASTIC DEMAND

Andy H.F. Chow

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

Abstract

This paper develops a general framework for analysing and calculating dynamic road toll. The optimal network flow is first determined by solving an optimal control problem with state-dependent responses such that the overall benefit of the network system is maximized. An optimal toll is then sought to decentralise this optimal flow. This control theoretic formulation can work with general travel time models and cost functions. Deterministic queue is predominantly used in dynamic network models. The analysis in this paper is more general and is applied to calculate the optimal flow and toll for Friesz's whole link traffic model. Numerical examples are provided for illustration and discussion. Finally, some concluding remarks are given.

Original language	English
Title of host publication	TRANSPORTATION AND THE ECONOMY
Subtitle of host publication	Proceedings of the 10^th International Conference of Hong Kong Society for Transportation Studies, December 10, 2005
Editors	William H.K. LAM, Jia YAN
Pages	138-147
Publication status	Published - Dec 2005
Externally published	Yes
Event	10th International Conference of Hong Kong Society for Transportation Studies: Transportation and the Economy, HKSTS 2005 - InterContinental Grand Stanford Hong Kong, Kowloon, Hong Kong, China Duration: 10 Dec 2005 → 10 Dec 2005

Conference

Conference	10th International Conference of Hong Kong Society for Transportation Studies: Transportation and the Economy, HKSTS 2005
Place	Hong Kong, China
City	Kowloon
Period	10/12/05 → 10/12/05

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@inproceedings{fa0a9e6987344f24b4df41835626774f,

title = "DYNAMIC NETWORK PRICING MODELS FOR ELASTIC DEMAND",

abstract = "This paper develops a general framework for analysing and calculating dynamic road toll. The optimal network flow is first determined by solving an optimal control problem with state-dependent responses such that the overall benefit of the network system is maximized. An optimal toll is then sought to decentralise this optimal flow. This control theoretic formulation can work with general travel time models and cost functions. Deterministic queue is predominantly used in dynamic network models. The analysis in this paper is more general and is applied to calculate the optimal flow and toll for Friesz's whole link traffic model. Numerical examples are provided for illustration and discussion. Finally, some concluding remarks are given.",

author = "Chow, \{Andy H.F.\}",

year = "2005",

month = dec,

language = "English",

isbn = "9889884712",

pages = "138--147",

editor = "LAM, \{William H.K.\} and Jia YAN",

booktitle = "TRANSPORTATION AND THE ECONOMY",

note = "10th International Conference of Hong Kong Society for Transportation Studies: Transportation and the Economy, HKSTS 2005 ; Conference date: 10-12-2005 Through 10-12-2005",

}

Chow, AHF 2005, DYNAMIC NETWORK PRICING MODELS FOR ELASTIC DEMAND. in WHK LAM & J YAN (eds), TRANSPORTATION AND THE ECONOMY: Proceedings of the 10^th International Conference of Hong Kong Society for Transportation Studies, December 10, 2005. pp. 138-147, 10th International Conference of Hong Kong Society for Transportation Studies: Transportation and the Economy, HKSTS 2005, Kowloon, Hong Kong, China, 10/12/05.

DYNAMIC NETWORK PRICING MODELS FOR ELASTIC DEMAND. / Chow, Andy H.F.
TRANSPORTATION AND THE ECONOMY: Proceedings of the 10^th International Conference of Hong Kong Society for Transportation Studies, December 10, 2005. ed. / William H.K. LAM; Jia YAN. 2005. p. 138-147.

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

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T1 - DYNAMIC NETWORK PRICING MODELS FOR ELASTIC DEMAND

AU - Chow, Andy H.F.

PY - 2005/12

Y1 - 2005/12

N2 - This paper develops a general framework for analysing and calculating dynamic road toll. The optimal network flow is first determined by solving an optimal control problem with state-dependent responses such that the overall benefit of the network system is maximized. An optimal toll is then sought to decentralise this optimal flow. This control theoretic formulation can work with general travel time models and cost functions. Deterministic queue is predominantly used in dynamic network models. The analysis in this paper is more general and is applied to calculate the optimal flow and toll for Friesz's whole link traffic model. Numerical examples are provided for illustration and discussion. Finally, some concluding remarks are given.

AB - This paper develops a general framework for analysing and calculating dynamic road toll. The optimal network flow is first determined by solving an optimal control problem with state-dependent responses such that the overall benefit of the network system is maximized. An optimal toll is then sought to decentralise this optimal flow. This control theoretic formulation can work with general travel time models and cost functions. Deterministic queue is predominantly used in dynamic network models. The analysis in this paper is more general and is applied to calculate the optimal flow and toll for Friesz's whole link traffic model. Numerical examples are provided for illustration and discussion. Finally, some concluding remarks are given.

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UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-84894594655&origin=recordpage

M3 - RGC 32 - Refereed conference paper (with host publication)

SN - 9889884712

SN - 9789889884710

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EP - 147

BT - TRANSPORTATION AND THE ECONOMY

A2 - LAM, William H.K.

A2 - YAN, Jia

T2 - 10th International Conference of Hong Kong Society for Transportation Studies: Transportation and the Economy, HKSTS 2005

Y2 - 10 December 2005 through 10 December 2005

ER -

DYNAMIC NETWORK PRICING MODELS FOR ELASTIC DEMAND

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