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- Publisher Website: 10.1080/23249935.2020.1817170
- Scopus: eid_2-s2.0-85091137756
- WOS: WOS:000571330700001
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Article: Profit optimization of public transit operators: examining both interior and boundary solutions
Title | Profit optimization of public transit operators: examining both interior and boundary solutions |
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Authors | |
Keywords | Day-to-day dynamics period-to-period adjustment monopoly Bertrand-Nash duopoly bus fare and auto toll scheme |
Publisher | Taylor & Francis. The Journal's web site is located at http://www.tandfonline.com/loi/ttra21 |
Citation | Transportmetrica A: Transport Science, 2021, v. 17 n. 4, p. 824-855 How to Cite? |
Abstract | We concern the modal choice of commuters in a transport system comprising a highway and two transit lines. For the operation of the transit lines, two market structures are considered: monopolistic and duopolistic. The problem of optimizing the profit of each transit operator is formulated as an optimization model with equilibrium constraints. We theoretically prove that, to obtain both the interior and boundary solutions of the optimization model, it is sufficient to solve an alternative optimization model with equality constraints. For each market structure, we propose a period-to-period transit fare and auto toll scheme to maximize the profit of each transit operator and to simultaneously make the profit of each transit operator more than a certain value. Finally, by numerical examples, we show the effectiveness of the scheme in each market and the necessity of examining both the interior and boundary solutions of the optimization model. |
Persistent Identifier | http://hdl.handle.net/10722/307842 |
ISSN | 2021 Impact Factor: 3.277 2020 SCImago Journal Rankings: 0.873 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Guo, RY | - |
dc.contributor.author | Szeto, WY | - |
dc.date.accessioned | 2021-11-12T13:38:42Z | - |
dc.date.available | 2021-11-12T13:38:42Z | - |
dc.identifier.citation | Transportmetrica A: Transport Science, 2021, v. 17 n. 4, p. 824-855 | - |
dc.identifier.issn | 2324-9935 | - |
dc.identifier.uri | http://hdl.handle.net/10722/307842 | - |
dc.description.abstract | We concern the modal choice of commuters in a transport system comprising a highway and two transit lines. For the operation of the transit lines, two market structures are considered: monopolistic and duopolistic. The problem of optimizing the profit of each transit operator is formulated as an optimization model with equilibrium constraints. We theoretically prove that, to obtain both the interior and boundary solutions of the optimization model, it is sufficient to solve an alternative optimization model with equality constraints. For each market structure, we propose a period-to-period transit fare and auto toll scheme to maximize the profit of each transit operator and to simultaneously make the profit of each transit operator more than a certain value. Finally, by numerical examples, we show the effectiveness of the scheme in each market and the necessity of examining both the interior and boundary solutions of the optimization model. | - |
dc.language | eng | - |
dc.publisher | Taylor & Francis. The Journal's web site is located at http://www.tandfonline.com/loi/ttra21 | - |
dc.relation.ispartof | Transportmetrica A: Transport Science | - |
dc.rights | This is an Accepted Manuscript of an article published by Taylor & Francis in Transportmetrica A: Transport Science on 18 Sep 2020, available online: http://www.tandfonline.com/10.1080/23249935.2020.1817170 | - |
dc.subject | Day-to-day dynamics | - |
dc.subject | period-to-period adjustment | - |
dc.subject | monopoly | - |
dc.subject | Bertrand-Nash duopoly | - |
dc.subject | bus fare and auto toll scheme | - |
dc.title | Profit optimization of public transit operators: examining both interior and boundary solutions | - |
dc.type | Article | - |
dc.identifier.email | Szeto, WY: ceszeto@hku.hk | - |
dc.identifier.authority | Szeto, WY=rp01377 | - |
dc.description.nature | postprint | - |
dc.identifier.doi | 10.1080/23249935.2020.1817170 | - |
dc.identifier.scopus | eid_2-s2.0-85091137756 | - |
dc.identifier.hkuros | 329292 | - |
dc.identifier.volume | 17 | - |
dc.identifier.issue | 4 | - |
dc.identifier.spage | 824 | - |
dc.identifier.epage | 855 | - |
dc.identifier.isi | WOS:000571330700001 | - |
dc.publisher.place | United Kingdom | - |