Journal
TRANSPORTATION RESEARCH PART B-METHODOLOGICAL
Volume 104, Issue -, Pages 733-756Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.trb.2017.06.001
Keywords
Transit optimization; Elastic demand; Mohring effect; Bus rapid transit; Light rail transit
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Funding
- CNR (Italy) under the STM-2015 grant
- Canadian Natural Sciences and Engineering Research Council [2015-06189]
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We present two optimization models for a transit line under the assumption that the demand is elastic and can be approximated by a linear function of fare and passenger travel time components. These models can be used to strategically evaluate technology choices. We study the effect of demand elasticity on the technology choice by analytic and numerical comparison with some fixed demand models. We assume a range of objective functions having as two extrema the maximization of operator's profit and the maximization of social welfare. We show both analytically and numerically that accounting for demand elasticity does not change the conclusions that can be derived by an equivalent fixed demand model. This invariance holds for a broad range of objective functions in the elastic case. The significant difference between the two objective function extrema lies in the proportions of captured demand. (C) 2017 Elsevier Ltd. All rights reserved.
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