Demand Elasticity and Benefit Measurement in a Waterway Simulation Model

Waterway simulation models can be used to evaluate system performance and optimize investment and operation decisions, provided the effects of such decisions on demand are properly considered. Some simulation models have considered demand changes due to seasonal variations, economic growth, congestion effects on travel times, and user responses to service interruptions—but not all of these factors together. An elastic demand relationship embedded in a simulation model is used to estimate the effects of changing service times and lock closures during the simulation. Because traffic demand and benefits may be significantly affected by the simulated decisions, evaluation or optimization of the system merely on the basis of total costs is unreasonable. Estimation of the benefits to waterway users also is demonstrated during simulation runs while accounting for the users’ responses to lock closures and other factors that affect travel times. Specifically, the present worth of net benefits for the entire analysis period can be computed and used as the objective function for optimization. This approach can account for infrastructure construction and maintenance costs, the effects of service quality and interruptions on user costs, and possible mode shifts in response to waterway service quality.

• Record URL:
  • https://doi.org/10.3141/2033-08
• 
• Summary URL:
  • http://scholar.google.com/scholar_lookup?title=Demand+Elasticity+and+Benefit+Measurement+in+a+Waterway+Simulation+Model&author=S.+Wang&author=P.+Schonfeld&publication_year=2007
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/isbn/9780309104609
• Authors:
  • Wang, Shiaau-Lir
  • Schonfeld, Paul M
• Publication Date: 2007

Language

• English

Media Info

• Media Type: Print
• Features: Figures; References; Tables;
• Pagination: pp 53-61
• Monograph Title: Water Transportation and Port Operations
• Serial:
  • Transportation Research Record: Journal of the Transportation Research Board
  • Issue Number: 2033
  • Publisher: Transportation Research Board
  • ISSN: 0361-1981

Subject/Index Terms

• TRT Terms: Benefits; Canal lock operations; Demand; Economic growth; Elasticity (Economics); Locks (Waterways); Present value; Simulation; Travel time; Waterways
• Uncontrolled Terms: Lock closure; Waterway capacity; Waterway congestion
• Subject Areas: Administration and Management; Economics; Marine Transportation;

Filing Info

• Accession Number: 01045023
• Record Type: Publication
• ISBN: 9780309104609
• Files: TRIS, TRB
• Created Date: Mar 30 2007 7:00AM