Analysis of the time-varying pricing of a bottleneck with elastic demand using optimal control theory
In this paper, a time-varying pricing model of a road bottleneck with elastic traffic demand is formulated using the optimal control theory. It is assumed that the optimal use of the bottleneck is achieved when social benefit over the whole time horizon of study is maximized. The necessary conditions for optimal solution are derived and their economic interpretations are given. Different from conventional analyses, queuing is not pre-assumed to be zero when obtaining the optimal time-varying toll, and the exit capacity of the bottleneck is assumed either to be constant or to vary with queue length. An approximate iterative algorithm is proposed for solving the model in a discrete time version. Three numerical examples are presented to demonstrate the applications of the proposed model and algorithm.
Volume (Year): 31 (1997)
Issue (Month): 6 (November)
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/548/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Small, Kenneth A, 1982. "The Scheduling of Consumer Activities: Work Trips," American Economic Review, American Economic Association, vol. 72(3), pages 467-79, June.
- Smith, M. J., 1979. "The marginal cost taxation of a transportation network," Transportation Research Part B: Methodological, Elsevier, vol. 13(3), pages 237-242, September.
- Braid, Ralph M., 1989. "Uniform versus peak-load pricing of a bottleneck with elastic demand," Journal of Urban Economics, Elsevier, vol. 26(3), pages 320-327, November.
- Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1992. "Route choice with heterogeneous drivers and group-specific congestion costs," Regional Science and Urban Economics, Elsevier, vol. 22(1), pages 71-102, March.
- Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
- Mun, Se-il, 1994. "Traffic jams and the congestion toll," Transportation Research Part B: Methodological, Elsevier, vol. 28(5), pages 365-375, October.
- Byung-Wook Wie, 1995. "A differential game approach to the dynamic mixed behavior traffic network equilibrium problem," European Journal of Operational Research, Elsevier, vol. 83(1), pages 117-136, May.
- Yan, Hai & Lam, William H. K., 1996. "Optimal road tolls under conditions of queueing and congestion," Transportation Research Part A: Policy and Practice, Elsevier, vol. 30(5), pages 319-332, September.
- Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1993. "A Structural Model of Peak-Period Congestion: A Traffic Bottleneck with Elastic Demand," American Economic Review, American Economic Association, vol. 83(1), pages 161-79, March.
- Arnott, R. & de Palma, A. & Lindsey, R., 1990. "Departure time and route choice for the morning commute," Transportation Research Part B: Methodological, Elsevier, vol. 24(3), pages 209-228, June.
- Richard Arnott & Andre de Palma & Robin Lindsey, 1987. "Bottleneck Congestion with Elastic Demand," Working Papers 690, Queen's University, Department of Economics.
- Henderson, J. V., 1974. "Road congestion : A reconsideration of pricing theory," Journal of Urban Economics, Elsevier, vol. 1(3), pages 346-365, July.
When requesting a correction, please mention this item's handle: RePEc:eee:transb:v:31:y:1997:i:6:p:425-440. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.