A multi-periodic optimization formulation for bike planning and bike utilization

The number of policy initiatives to promote the use of bike, or the combined use of bicycle and public transport for one trip, has grown considerably over the past decade as part of the search for more sustainable transport solutions. This paper presents an optimization formulation to design a bike-sharing system for travel inside small communities, or as a means to extend public transport for access and egress trips. The mathematical model attempts to optimize a bike-sharing system by determining the minimum required bike fleet size that minimizes simultaneously unmet demand, unutilized bikes, and the need to transport empty bikes between rental stations to meet demand. The proposed approach is applied to an example problem and is shown to be successful, ultimately providing a new managerial tool for planning and analyzing bike utilization more effectively. (C) 2011 Elsevier Inc. All rights reserved.