Managing Morning Commute Congestion with Tradable Credit Scheme Under Commuter Heterogeneity and Loss Aversion
This study analyzes the effect of a tradable credit scheme (TCS) on managing morning commute congestion. It uses the single bottleneck model in a discrete time setting, and classifies commuters into groups based on heterogeneity in terms of value of time, schedule delay penalty and desired arrival time. The TCS parameters consist of group-specific credit allocation and time-varying credit charging. Commuters trade credits in the market based on their initial credit endowments, travel needs, and loss aversion attitude. Travelers valuate the charged credits of departure time choice as monetary gains or losses relative to their initial endowments. The existence and uniqueness of equilibrium departure rates, credit price and travel disutility are investigated under this TCS. It is demonstrated that credit price and total value of traded credits approach zero as consumers’ loss aversion increases. The TCS parameters that lead to the system optimal solution in terms of the sum of the schedule delay and travel time costs, are derived by applying linear programming duality. Sensitivity analysis is performed to understand the effects of the initial credit allocation scheme on credit price and travel disutility of commuters. The study findings suggest that when the travelers’ loss aversion attitude is considered, the credit allocation method is important for determining the departure time choices and credit price.
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Supplemental Notes:
- This paper was sponsored by TRB committee ABE50 Standing Committee on Transportation Demand Management.
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Corporate Authors:
500 Fifth Street, NW
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Authors:
- Miralinaghi, Mohammad
- Peeta, Srinivas
- He, Xiaozheng (Sean)
- Ukkusuri, Satish V
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Conference:
- Transportation Research Board 96th Annual Meeting
- Location: Washington DC, United States
- Date: 2017-1-8 to 2017-1-12
- Date: 2017
Language
- English
Media Info
- Media Type: Digital/other
- Features: Figures; References;
- Pagination: 19p
- Monograph Title: TRB 96th Annual Meeting Compendium of Papers
Subject/Index Terms
- TRT Terms: Attitudes; Bottlenecks; Commuters; Departure time; Economic factors; Emissions trading; Morning; Peak hour traffic; Sensitivity analysis
- Candidate Terms: Carbon credits
- Uncontrolled Terms: Heterogeneity (Traffic); Loss aversion
- Subject Areas: Economics; Highways; Operations and Traffic Management; Planning and Forecasting;
Filing Info
- Accession Number: 01626282
- Record Type: Publication
- Report/Paper Numbers: 17-01040
- Files: TRIS, TRB, ATRI
- Created Date: Feb 21 2017 5:09PM