Finding optimum fares and timetables in a monopoly rail market with heterogeneous passengers

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00076580" target="_blank" >RIV/00216224:14560/14:00076580 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Finding optimum fares and timetables in a monopoly rail market with heterogeneous passengers
Original language description
This paper presents an agent-based model of passenger rail services. In the model, passengers are uniformly distributed on a circle representing the preferred departure times and passengers on each position of the circle have uniformly distributed reservation prices. The passengers choose the train with the lowest fare plus transport cost, given the sum of fare and transport cost is lower than their reser-vation prices. The paper provides algorithms which can be used for finding fares and timetable of amonopoly train operating company that maximizes its total profit and total welfare in realistic market settings. The efficiency of the algorithms is tested against the analytical solution of the model. The paper finds that the algorithm approximates thetheoretical fare, number of trains and their departure times efficiently.
Czech name
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Czech description
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
32nd International Conference Mathematical Methods in Eocnomics Conference Proceedings
ISBN
9788024442099
ISSN
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e-ISSN
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Number of pages
5
Pages from-to
495-499
Publisher name
Palacký University
Place of publication
Olomouc
Event location
Olomouc
Event date
Sep 10, 2014
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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