DocumentCode
3472043
Title
Optimizing Pricing Function for Metro in a Competitive Public Transport System
Author
Qin, Feifei ; Jia, Haicheng
Author_Institution
Molde Univ. Coll., Molde
fYear
2007
fDate
18-21 Aug. 2007
Firstpage
1187
Lastpage
1192
Abstract
This paper analyzes how to build an optimal pricing function for metro in a competitive urban public transport system. A modified multinomial logit model is introduced for estimating aggregate own-price elasticity of demand. Then, by substituting this price elasticity into a standard Ramsey pricing function, Metro´s public benefits are maximized, subject to a breakeven constraint on the metro company´s revenue.
Keywords
optimisation; pricing; transportation; Ramsey pricing function; aggregate own-price elasticity of demand; competitive urban public transport system; metro system; multinomial logit model; pricing function optimization; Aggregates; Context modeling; Cost function; Economic forecasting; Educational institutions; Elasticity; Environmental economics; Logistics; Pricing; Transportation; Optimizing; Ramsey pricing; aggregate own-price elasticity of demand;
fLanguage
English
Publisher
ieee
Conference_Titel
Automation and Logistics, 2007 IEEE International Conference on
Conference_Location
Jinan
Print_ISBN
978-1-4244-1531-1
Type
conf
DOI
10.1109/ICAL.2007.4338749
Filename
4338749
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