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A Novel Dynamic Pricing Route Reservations Architecture

Authors: Katsifaraki, Georgia; Menelaou, Charalambos; Timotheou, Stelios; Panayiotou, Christos;

A Novel Dynamic Pricing Route Reservations Architecture

Abstract

Route reservations have been proposed as an effective solution to mitigate traffic congestion while preservingthe road network in free-flow traffic conditions, offering users some limited departure time and route choices. However, high user compliance is required. To provide users with the freedom to choose among any spatiotemporal route in the road network, in this work we propose a dynamic pricing route reservationsarchitecture. At each time step, the central controller sets prices dynamically, using the network’s reservations status and the users’ demand characteristics. Rational users will ultimately choose the route that minimizes their disutility by considering routes’ travel time, schedule delays, and reservation price. A series of microscopic simulations reveal that the proposed approach demonstrates a similar traffic performance as other optimal route reservation approaches. It however outperforms them in terms of social welfare, user satisfaction and flexibility, providing users with numerous spatiotemporal free-flow route choices, while minimizing aggregated disutility.

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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Green