Toll Pricing with Elastic Demand and Heterogeneous Users

Shuaian Wang; Mark Harrison; Michelle Dunbar

doi:10.1061/9780784413609.227

Toll Pricing with Elastic Demand and Heterogeneous Users

Shuaian Wang, Mark Harrison, Michelle Dunbar

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

1 Citation (Scopus)

Abstract

We consider a general transportation network where travelers are categorized into classes according to their value-of-Time (VOTs). The travel demand of each class in each origin-destination (OD) pair is a known decreasing function of the generalized travel cost to reflect different values of the trips. We give an economic interpretation of elastic demand with user heterogeneity. We further consider the first-best pricing problem with elastic demand with heterogeneous users. We show that such a nonnegative toll always exists, and finding such a toll is simple in that only a convex optimization problem needs to be solved.

Original language	English
Title of host publication	Vulnerability, Uncertainty, and Risk
Subtitle of host publication	Quantification, Mitigation, and Management - Proceedings of the 2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014
Publisher	American Society of Civil Engineers (ASCE)
Pages	2265-2271
Number of pages	7
ISBN (Electronic)	9780784413609
DOIs	https://doi.org/10.1061/9780784413609.227
Publication status	Published - 1 Jan 2014
Externally published	Yes
Event	2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014 - Liverpool, United Kingdom Duration: 13 Jul 2014 → 16 Jul 2014

Conference

Conference	2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014
Country/Territory	United Kingdom
City	Liverpool
Period	13/07/14 → 16/07/14

ASJC Scopus subject areas

Safety, Risk, Reliability and Quality

More information

10.1061/9780784413609.227

Cite this

Wang, S., Harrison, M., & Dunbar, M. (2014). Toll Pricing with Elastic Demand and Heterogeneous Users. In Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management - Proceedings of the 2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014 (pp. 2265-2271). American Society of Civil Engineers (ASCE). https://doi.org/10.1061/9780784413609.227

Wang, Shuaian ; Harrison, Mark ; Dunbar, Michelle. / Toll Pricing with Elastic Demand and Heterogeneous Users. Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management - Proceedings of the 2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014. American Society of Civil Engineers (ASCE), 2014. pp. 2265-2271

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Wang, S, Harrison, M & Dunbar, M 2014, Toll Pricing with Elastic Demand and Heterogeneous Users. in Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management - Proceedings of the 2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014. American Society of Civil Engineers (ASCE), pp. 2265-2271, 2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014, Liverpool, United Kingdom, 13/07/14. https://doi.org/10.1061/9780784413609.227

Toll Pricing with Elastic Demand and Heterogeneous Users. / Wang, Shuaian; Harrison, Mark; Dunbar, Michelle.
Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management - Proceedings of the 2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014. American Society of Civil Engineers (ASCE), 2014. p. 2265-2271.

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

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Wang S, Harrison M, Dunbar M. Toll Pricing with Elastic Demand and Heterogeneous Users. In Vulnerability, Uncertainty, and Risk: Quantification, Mitigation, and Management - Proceedings of the 2nd International Conference on Vulnerability and Risk Analysis and Management, ICVRAM 2014 and the 6th International Symposium on Uncertainty Modeling and Analysis, ISUMA 2014. American Society of Civil Engineers (ASCE). 2014. p. 2265-2271 doi: 10.1061/9780784413609.227

Toll Pricing with Elastic Demand and Heterogeneous Users

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