Managing bottleneck congestion with tradable credits |
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| Institution: | 1. School of Transportation & Logistics, Southwest Jiaotong University, PR China;2. Department of Civil and Environmental Engineering, University of California, Davis, CA 95616, United States;3. School of Transportation Engineering, Tongji University, Shanghai, China;1. Heinz College, Carnegie Mellon University, United States;2. Department of Civil and Environmental Engineering, Stanford University, United States;1. Department of Civil and Environmental Engineering, Northwestern University, 2145 Sheridan Road, Evanston, IL 60208, United States;2. Department of Industrial and Systems Engineering, National University of Singapore, Singapore;1. School of Traffic and Transportation, Beijing Jiaotong University, No. 3 of Shangyuan Residence, Haidian District, Beijing 100044, China;2. Department of Civil and Environmental Engineering, The Hong Kong University of Science and Technology, Clear Water Bay, Kowloon, Hong Kong, China;1. Beijing Key Laboratory of Transportation Engineering, Beijing University of Technology, 100 Pingleyuan, Chaoyang District, Beijing 100124, China;2. College of Urban Construction, Hebei Normal University of Science and Technology, 360 Western Section of Hebei Avenue, Haigang District, Qinhuangdao, Hebei 066004, China;3. Institute of Industrial Science, The University of Tokyo, Komaba 4-6-1, Meguro-ku, Tokyo 153-8505, Japan;4. Graduate School of Information Sciences, Tohoku University, Aramaki Aoba 6-3-09, Aoba-ku, Sendai, Miyagi 980-8579, Japan;5. Graduate School of Engineering, Tohoku University, Aramaki Aoba 6-6, Aoba-ku, Sendai, Miyagi 980-8579, Japan;1. School of Traffic and Transportation, Beijing Jiaotong University, Beijing 100044, China;2. Department of Civil and Environmental Engineering, The Hong Kong University of Science and Technology, Clear Water Bay, Kowloon, Hong Kong, China;3. State Key Laboratory of Rail Traffic Control and Safety, Beijing Jiaotong University, Beijing 100044, China;4. School of Economics and Management, China University of Geosciences, Wuhan 430074, China;1. Department of Industrial and Systems Engineering, National University of Singapore, Singapore;2. Department of Civil and Environmental Engineering, Northwestern University, Evanston, Illinois, United States;3. Department of Economics and School of Public Policy and Governance, University of Toronto, Toronto, Canada |
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| Abstract: | We demonstrate the efficiency and effectiveness of a tradable credit system in managing the morning commute congestion with identical and nonidentical commuters. The credit system consists of a time-varying credit charged at the bottleneck and an initial credit distribution to the commuters, where the credits are universal in terms of time. Credits are tradable between the commuters and the credit price is determined by a competitive market. Under the assumption that late-arrival is not allowed, we prove that an optimal credit charging scheme, which completely eliminates the bottleneck queue, always exists despite how commuters vary in their value-of-time (VOT). The optimal charge rate is strictly increasing and convex with time, which therefore drives the commuters to depart in the increasing order of their VOT. The optimal credit charging scheme is pareto-improving, but may cause undesirable welfare distribution among the commuters. Our study shows that a combination of an initial credit distribution and an optimal credit charging scheme can simultaneously achieve system optimum and certain forms of equality (e.g., “numerical” or “proportional” equality), and that the commuters in the middle VOT bracket will receive the most credits under the proportionally equitable credit distribution. |
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| Keywords: | Tradable credit Bottleneck Value-of-time Morning commute Equity |
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