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Dynamic network pricing models for elastic travel demand

Chow, A.; (2005) Dynamic network pricing models for elastic travel demand. Presented at: Proceedings of the 10th Conference of Hong Kong Society for Transportation, Hong Kong.

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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 statedependent 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.

Type:Conference item (Presentation)
Title:Dynamic network pricing models for elastic travel demand
Event:Proceedings of the 10th Conference of Hong Kong Society for Transportation
Location:Hong Kong
Dates:10 Dec 2005
Language:English
UCL classification:UCL > School of BEAMS > Faculty of Engineering Science > Civil, Environmental and Geomatic Engineering

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