Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale
Name
2020-yan-transporation-science.pdf
Description
Accepted version
Size
589.48 KB
Format
Adobe PDF
Checksum (MD5)
1b1df305595309c9eeac19db4294fe7c
Author(s)
Bertsimas, Dimitris
Sian Ng, Yee
Yan, Julia
Date Issued
2020
Journal
Transportation Science
Publisher
Institute for Operations Research and the Management Sciences (INFORMS)
Version
Author's final manuscript
Abstract
Copyright: © 2020 INFORMS Modern public transportation systems are increasingly complex: they are operated on a large scale, must support booming urban populations, and run under tight budget constraints. Additionally, passengers are able to make choices between a variety of commuting options. We develop formulations for minimizing system wait time in multimodal networks, while accounting for operator budget constraints, capacity constraints, and passenger preferences. Furthermore, our algorithms run to near optimality in minutes for city-sized networks. We demonstrate the benefit of setting schedule frequencies and prices jointly through case studies on real data from Boston and Tokyo. To our knowledge, ours is the first paper that addresses joint frequency-setting and pricing optimization for public transit networks and at scale.
MIT Department
Sloan School of Management
Massachusetts Institute of Technology. Operations Research Center
Terms of Use
Creative Commons Attribution-Noncommercial-Share Alike
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1287/TRSC.2019.0959
