search query: @indexterm logit models / total: 38
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| Author: | Huang, H.-J. |
| Title: | Pricing and logit-based mode choice models of a transit and highway system with elastic demand |
| Journal: | European Journal of Operational Research
2002 : AUG, VOL. 140:3, p. 562-570 |
| Index terms: | PRICES PRICING LOGIT MODELS TRANSPORT |
| Language: | eng |
| Abstract: | The objective of this paper is to enhance the insights into transport pricing mechanism and the corresponding mode choice behavior in a simple bi-modal transportation system with elastic demand. This system comprises a mass transit parallel to a bottleneck- constrained highway between a residential area and a workplace. The authors derive and compare three pricing schemes: the arbitrarily fixed pricing, the first-best pricing for a social optimum of the system, and the second-best pricing in the case of incapability of road toll. It is shown that the first-best pricing requires to implement a road toll and a transit fare simultaneously, and the optimal transit fare for the second-best solution should be set to be a weighted sum of the marginal external costs between auto and transit commuters. |
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