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Bimodal transit design with heterogeneous demand elasticity under different fare structures

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Bimodal transit design with heterogeneous demand elasticity under different fare structures. / Yang, Yi; Jiang, Xinguo; Yan, Yusong et al.
In: Transportmetrica A: Transport Science, 05.07.2023.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Yang, Y, Jiang, X, Yan, Y, Liu, T & Jiang, Y 2023, 'Bimodal transit design with heterogeneous demand elasticity under different fare structures', Transportmetrica A: Transport Science. https://doi.org/10.1080/23249935.2023.2231091

APA

Yang, Y., Jiang, X., Yan, Y., Liu, T., & Jiang, Y. (2023). Bimodal transit design with heterogeneous demand elasticity under different fare structures. Transportmetrica A: Transport Science. Advance online publication. https://doi.org/10.1080/23249935.2023.2231091

Vancouver

Yang Y, Jiang X, Yan Y, Liu T, Jiang Y. Bimodal transit design with heterogeneous demand elasticity under different fare structures. Transportmetrica A: Transport Science. 2023 Jul 5. Epub 2023 Jul 5. doi: 10.1080/23249935.2023.2231091

Author

Yang, Yi ; Jiang, Xinguo ; Yan, Yusong et al. / Bimodal transit design with heterogeneous demand elasticity under different fare structures. In: Transportmetrica A: Transport Science. 2023.

Bibtex

@article{8e48c016df6545ee8ff2c499b5545fc9,
title = "Bimodal transit design with heterogeneous demand elasticity under different fare structures",
abstract = "The study develops a new optimisation model to design a bimodal transit system from a microeconomic view to maximise the profit of a transit agency considering heterogeneous demand elasticity and different fare structures. Bimodal transit network parameters are optimized to better serve passenger demand. An elastic demand function is devised to include various time components and incorporate flat, distance-based, and hybrid fares. A nested iterative procedure is developed to find a near-optimal solution. Numerical experiments reveal the following interesting findings. First, the increase in elasticity parameters has a knock-on effect on the financial performance, consequently leading to a net profit reduction. Second, a distance-based fare scheme brings in the least actual demand but makes the most profit, compared with the flat and hybrid fare schemes. Third, passengers prefer using a rail-bus system to a BRT-bus system, especially at a higher demand level.",
keywords = "General Engineering, Transportation",
author = "Yi Yang and Xinguo Jiang and Yusong Yan and Tao Liu and Yu Jiang",
year = "2023",
month = jul,
day = "5",
doi = "10.1080/23249935.2023.2231091",
language = "English",
journal = "Transportmetrica A: Transport Science",
issn = "2324-9935",
publisher = "Taylor and Francis",

}

RIS

TY - JOUR

T1 - Bimodal transit design with heterogeneous demand elasticity under different fare structures

AU - Yang, Yi

AU - Jiang, Xinguo

AU - Yan, Yusong

AU - Liu, Tao

AU - Jiang, Yu

PY - 2023/7/5

Y1 - 2023/7/5

N2 - The study develops a new optimisation model to design a bimodal transit system from a microeconomic view to maximise the profit of a transit agency considering heterogeneous demand elasticity and different fare structures. Bimodal transit network parameters are optimized to better serve passenger demand. An elastic demand function is devised to include various time components and incorporate flat, distance-based, and hybrid fares. A nested iterative procedure is developed to find a near-optimal solution. Numerical experiments reveal the following interesting findings. First, the increase in elasticity parameters has a knock-on effect on the financial performance, consequently leading to a net profit reduction. Second, a distance-based fare scheme brings in the least actual demand but makes the most profit, compared with the flat and hybrid fare schemes. Third, passengers prefer using a rail-bus system to a BRT-bus system, especially at a higher demand level.

AB - The study develops a new optimisation model to design a bimodal transit system from a microeconomic view to maximise the profit of a transit agency considering heterogeneous demand elasticity and different fare structures. Bimodal transit network parameters are optimized to better serve passenger demand. An elastic demand function is devised to include various time components and incorporate flat, distance-based, and hybrid fares. A nested iterative procedure is developed to find a near-optimal solution. Numerical experiments reveal the following interesting findings. First, the increase in elasticity parameters has a knock-on effect on the financial performance, consequently leading to a net profit reduction. Second, a distance-based fare scheme brings in the least actual demand but makes the most profit, compared with the flat and hybrid fare schemes. Third, passengers prefer using a rail-bus system to a BRT-bus system, especially at a higher demand level.

KW - General Engineering

KW - Transportation

U2 - 10.1080/23249935.2023.2231091

DO - 10.1080/23249935.2023.2231091

M3 - Journal article

JO - Transportmetrica A: Transport Science

JF - Transportmetrica A: Transport Science

SN - 2324-9935

ER -