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Fixed and Variable Toll Pricing in Road Networks with Direct Search Meta-Heuristics

In: Metaheuristics in the Service Industry

Author

Listed:
  • Loukas Dimitriou

    (Centre for Planning and Economic Research (KEPE))

  • Theodore Tsekeris

    (Centre for Planning and Economic Research (KEPE))

Abstract

This study describes the use of a Direct Search (DS) metaheuristic algorithm for solving the fixed and variable toll design problem, in terms of finding (adequately near-)optimum toll level(s), in roads operated by private, profitmaximizing firms. The problem is formulated as a nonconvex, bilevel nonlinear mathematical program, which seeks to maximize toll revenues while taking into account the travel responses of network users, through a multi-class stochastic user equilibrium traffic assignment model with elastic demand. The algorithm is implemented onto a real-life urban sub-network which includes a private highway. The results of the case study show the ability of the DS algorithm to relatively quickly converge to a solution and signify its potential to provide a competitive alternative to the currently used genetic algorithm (GA) approach for solving such types of nonconvex bilevel programs in the sector of road transport services.

Suggested Citation

  • Loukas Dimitriou & Theodore Tsekeris, 2009. "Fixed and Variable Toll Pricing in Road Networks with Direct Search Meta-Heuristics," Lecture Notes in Economics and Mathematical Systems, in: Kenneth Sörensen & Marc Sevaux & Walter Habenicht & Martin Josef Geiger (ed.), Metaheuristics in the Service Industry, chapter 4, pages 45-61, Springer.
    • Handle: RePEc:spr:lnechp:978-3-642-00939-6_4
    DOI: 10.1007/978-3-642-00939-6_4
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