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The models and economics of carpools

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  • Hai-Jun Huang

    (School of Management, Beijing University of Aeronautics and Astronautics, Beijing, 100083, P.R. China Department of Civil and Structural Engineering, The Hong Kong University of Science and Technology, Kowloon, Hong Kong Transport Operations Research Group, Department of Civil Engineering, University of Newcastle, Newcastle-upon-Tyne, NE1 7RU, UK)

  • Hai Yang

    (School of Management, Beijing University of Aeronautics and Astronautics, Beijing, 100083, P.R. China Department of Civil and Structural Engineering, The Hong Kong University of Science and Technology, Kowloon, Hong Kong Transport Operations Research Group, Department of Civil Engineering, University of Newcastle, Newcastle-upon-Tyne, NE1 7RU, UK)

  • Michael G.H. Bell

    (School of Management, Beijing University of Aeronautics and Astronautics, Beijing, 100083, P.R. China Department of Civil and Structural Engineering, The Hong Kong University of Science and Technology, Kowloon, Hong Kong Transport Operations Research Group, Department of Civil Engineering, University of Newcastle, Newcastle-upon-Tyne, NE1 7RU, UK)

Abstract

For studying carpooling problems, this paper presents two models, namely deterministic and stochastic, and gives the economic explanations to the model solutions. We investigate the jockeying behavior of work commuters between carpooling and driving alone modes through solving each model for both no-toll equilibrium and social optimum. The logit-based stochastic model involves the consideration on preference option of mode choice. Under some assumptions, the paper explains how the amount of carpooling is affected by fuel cost, assembly cost, value of time, preferential or attitudinal factors and traffic congestion. It is found that carpooling is sensitive to traffic congestion reduction only when a congestion externality-based tolling scheme is implemented.

Suggested Citation

  • Hai-Jun Huang & Hai Yang & Michael G.H. Bell, 2000. "The models and economics of carpools," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 34(1), pages 55-68.
    • Handle: RePEc:spr:anresc:v:34:y:2000:i:1:p:55-68
    Note: Received: August 1997/Accepted: October 1998
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