Finding Equilibrium in a Monopoly Passenger Railway Market: A Comparison of Agent-Based Simulations with Theoretical Predictions

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00095736" target="_blank" >RIV/00216224:14560/14:00095736 - 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 Equilibrium in a Monopoly Passenger Railway Market: A Comparison of Agent-Based Simulations with Theoretical Predictions

Original language description

This paper presents an agent-based model of passenger rail services. It provides an algorithm that is able to find the optimal price and timetable for a service provided by a monopoly train operating company. For testing the efficiency of the algorithm, it presents a simplified setting in which the equilibrium price and timetable can be found analytically using the Salop model of competition. The paper finds that the algorithm approximates well the predicted price and timetable and that an increase in the equilibrium number of trains in the market reduces the efficiency of the algorithm.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50200 - Economics and Business

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2014

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Hradec Economic Days 2014

ISBN

9788074353697

ISSN

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e-ISSN

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Number of pages

7

Pages from-to

357-363

Publisher name

Gaudeamus

Place of publication

Hradec Králové

Event location

Hradec Králové

Event date

Jan 1, 2014

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

000398250300047