Open AccessAccounting for travel time reliability, trip purpose and departure time choice in an agent‐based dynamic toll pricing approach
Author(s) -
Li Wan,
Cheng Danhong,
Bian Ruijie,
Ishak Sherif,
Osman Osama A
Publication year - 2018
Publication title -
iet intelligent transport systems
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.579
H-Index - 45
eISSN - 1751-9578
pISSN - 1751-956X
DOI - 10.1049/iet-its.2017.0004
Subject(s) - toll , value of time , revenue , reliability (semiconductor) , toll road , transport engineering , operations research , travel time , road pricing , process (computing) , computer science , engineering , business , traffic congestion , finance , operating system , power (physics) , genetics , physics , quantum mechanics , biology
This study introduces an agent‐based dynamic feedback‐control toll pricing strategy that accounts for the trip purpose, travel time reliability, departure time choice and level of income such that the toll revenue is maximised while maintaining a minimum desired level of service on the managed lanes. An agent‐based modelling was applied to simulate drivers’ learning process based on their previous commuting experience. The study also analysed how drivers’ heterogeneity in value of time, and value of reliability for each trip purpose will influence route decisions and thus affect the optimal toll rates. Comparative evaluation between the newly developed strategy, the strategy currently deployed on Interstate 95 express lanes, and another strategy previously developed by the authors shows that the agent‐based strategy produced a steadier increase in toll rate during the peak hours and a significantly higher toll revenue at speeds higher than 45 mph.