Optimal dynamic pricing strategies for high-occupancy/toll lanes

Yingyan Lou, Yafeng Yin, Jorge A. Laval

Research output: Contribution to journalArticle

53 Citations (Scopus)

Abstract

This paper proposes a self-learning approach to determine optimal pricing strategies for high-occupancy/toll lane operations. The approach learns recursively motorists' willingness to pay by mining the loop detector data, and then specifies toll rates to maximize the freeway's throughput while ensuring a superior travel service to the users of the toll lanes. In determination of the tolls, a multi-lane hybrid traffic flow model is used to explicitly consider the impacts of the lane-changing behaviors before the entry points of the toll lanes on throughput and travel time. Simulation experiments are conducted to demonstrate and validate the proposed approach, and provide insights on when to convert high-occupancy lanes to toll lanes.

Original languageEnglish (US)
Pages (from-to)64-74
Number of pages11
JournalTransportation Research Part C: Emerging Technologies
Volume19
Issue number1
DOIs
StatePublished - Feb 2011
Externally publishedYes

Fingerprint

pricing
travel
Throughput
Highway systems
willingness to pay
Travel time
Costs
traffic
Detectors
simulation
experiment
learning
Experiments
Pricing strategy
Dynamic pricing
time
Traffic flow
Simulation experiment
Optimal pricing
Willingness-to-pay

Keywords

  • Dynamic pricing
  • High-occupancy/toll lanes
  • Lane changes
  • Self-learning

ASJC Scopus subject areas

  • Computer Science Applications
  • Management Science and Operations Research
  • Automotive Engineering
  • Transportation

Cite this

Optimal dynamic pricing strategies for high-occupancy/toll lanes. / Lou, Yingyan; Yin, Yafeng; Laval, Jorge A.

In: Transportation Research Part C: Emerging Technologies, Vol. 19, No. 1, 02.2011, p. 64-74.

Research output: Contribution to journalArticle

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