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Agent-Based Model of Price Competition, Capacity Choice, and Product Differentiation on Congested Networks

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  • Lei Zhang
  • David M. Levinson
  • Shanjiang Zhu

Abstract

Using consistent agent-based techniques, this research explores the welfare consequences of product differentiation on congested networks. The economic analysis focuses on the source, evolution, measurement, and impact of product differentiation with heterogeneous users on a mixed ownership network. Path differentiation and space differentiation are defined and measured for a base scenario and several variants. The findings favour a fixed-rate road pricing policy compared to complete pricing freedom on toll roads. It is also shown that the impact of production differentiation on welfare is not always positive and depends on the level of user heterogeneity. © 2008 LSE and the University of Bath

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Bibliographic Info

Article provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy.

Volume (Year): 42 (2008)
Issue (Month): 3 (September)
Pages: 435-461

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Handle: RePEc:tpe:jtecpo:v:42:y:2008:i:3:p:435-461

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Web page: http://www.bath.ac.uk/e-journals/jtep

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Cited by:
  1. Vincent A.C. van den Berg, 2013. "Coarse Tolling with Heterogeneous Preferences," Tinbergen Institute Discussion Papers 13-120/VIII, Tinbergen Institute.
  2. Zheng, Nan & Waraich, Rashid A. & Axhausen, Kay W. & Geroliminis, Nikolas, 2012. "A dynamic cordon pricing scheme combining the Macroscopic Fundamental Diagram and an agent-based traffic model," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(8), pages 1291-1303.
  3. Shanjiang Zhu & David Levinson, 2009. "People don't use the shortest path," Working Papers 000059, University of Minnesota: Nexus Research Group.
  4. van den Berg, Vincent A.C. & Verhoef, Erik T., 2012. "Is the travel time of private roads too short, too long, or just right?," Transportation Research Part B: Methodological, Elsevier, vol. 46(8), pages 971-983.
  5. Theodore Tsekeris & Klimis Vogiatzoglou, 2011. "Spatial agent-based modeling of household and firm location with endogenous transport costs," Netnomics, Springer, vol. 12(2), pages 77-98, July.
  6. Paul Koster & Erik T. Verhoef & Simon Shepherd & David Watling, 2014. "Probabilistic Choice and Congestion Pricing with Heterogeneous Travellers and Price-Sensitive Demand," Tinbergen Institute Discussion Papers 14-078/VIII, Tinbergen Institute.
  7. Bataille, Marc & Steinmetz, Alexander, 2013. "Intermodal competition on some routes in transportation networks: The case of inter urban buses and railways," DICE Discussion Papers 84, Heinrich‐Heine‐Universität Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
  8. Zhu, Shanjiang & Du, Longyuan & Zhang, Lei, 2013. "Rationing and pricing strategies for congestion mitigation: Behavioral theory, econometric model, and application in Beijing," Transportation Research Part B: Methodological, Elsevier, vol. 57(C), pages 210-224.

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