Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale
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 de...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
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Institute for Operations Research and the Management Sciences (INFORMS)
2021
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| Online Access: | https://hdl.handle.net/1721.1/135415 |
| _version_ | 1811078098232279040 |
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| author | Bertsimas, Dimitris Sian Ng, Yee Yan, Julia |
| author2 | Sloan School of Management |
| author_facet | Sloan School of Management Bertsimas, Dimitris Sian Ng, Yee Yan, Julia |
| author_sort | Bertsimas, Dimitris |
| collection | MIT |
| description | 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. |
| first_indexed | 2024-09-23T10:53:21Z |
| format | Article |
| id | mit-1721.1/135415 |
| institution | Massachusetts Institute of Technology |
| language | English |
| last_indexed | 2024-09-23T10:53:21Z |
| publishDate | 2021 |
| publisher | Institute for Operations Research and the Management Sciences (INFORMS) |
| record_format | dspace |
| spelling | mit-1721.1/1354152023-09-07T20:45:56Z Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale Bertsimas, Dimitris Sian Ng, Yee Yan, Julia Sloan School of Management Massachusetts Institute of Technology. Operations Research Center 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. 2021-10-27T20:23:23Z 2021-10-27T20:23:23Z 2020 2021-02-05T19:41:14Z Article http://purl.org/eprint/type/JournalArticle https://hdl.handle.net/1721.1/135415 en 10.1287/TRSC.2019.0959 Transportation Science Creative Commons Attribution-Noncommercial-Share Alike http://creativecommons.org/licenses/by-nc-sa/4.0/ application/pdf Institute for Operations Research and the Management Sciences (INFORMS) Other repository |
| spellingShingle | Bertsimas, Dimitris Sian Ng, Yee Yan, Julia Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale |
| title | Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale |
| title_full | Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale |
| title_fullStr | Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale |
| title_full_unstemmed | Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale |
| title_short | Joint Frequency-Setting and Pricing Optimization on Multimodal Transit Networks at Scale |
| title_sort | joint frequency setting and pricing optimization on multimodal transit networks at scale |
| url | https://hdl.handle.net/1721.1/135415 |
| work_keys_str_mv | AT bertsimasdimitris jointfrequencysettingandpricingoptimizationonmultimodaltransitnetworksatscale AT sianngyee jointfrequencysettingandpricingoptimizationonmultimodaltransitnetworksatscale AT yanjulia jointfrequencysettingandpricingoptimizationonmultimodaltransitnetworksatscale |