Research on a Dynamic Ticket Pricing Model for the Passenger Dedicated Lines

High-speed railway passenger dedicated lines have become the main direction of railway network research all around the world. The ticket pricing of these lines is one of the central issues in order to maximize the profits and the utilization of the high-speed railway system. In this paper, combined with the current situation of China's high-speed railway, a mathematical model of the market share of the railway system is analyzed with the help of the Box-Cox Logit model. Based on this model, a multi-extremal model of a dynamic ticket pricing method is then introduced, which suggests the ticket quantity and how much the ticket price can be discounted. This model is then tested in a Matlab simulation by taking the Jinghu passenger dedicated line as an example. The results show that the dynamic ticket pricing can attract more passengers and consequently improve the railway system income.

Language

  • English

Media Info

  • Media Type: Web
  • Features: Figures; References; Tables;
  • Pagination: pp 1758-1769
  • Monograph Title: CICTP 2012: Multimodal Transportation Systems—Convenient, Safe, Cost-Effective, Efficient

Subject/Index Terms

Filing Info

  • Accession Number: 01501299
  • Record Type: Publication
  • ISBN: 9780784412442
  • Files: TRIS, ASCE
  • Created Date: Nov 12 2013 2:36PM