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Prof.Guo Xiaolei's Lecture Notice

Publish Date: 2017/07/12 08:14:17    Hits:

Title:Profit Maximization by a Private Toll Road with Cars and Trucks

Lecturer: Prof.Guo Xiaolei

Time:2017.7.12 16:00-17:30

Location:New Main Building A716

Abstract:

We examine the profit maximizing behavior of a private firm which operates a toll road competing against a free alternative in presence of cars and trucks. Trucks differ from cars in value of time (VOT), congestion externality, pavement damage, and link travel time function. We first consider that both vehicle types choose routes deterministically. We find that the firm takes either a car-strategy or a truck-strategy for profit maximization. For a traffic mix with relatively large car volume and small truck volume, the car-strategy results in no trucks using the toll road, while the truck-strategy results in all trucks using the toll road. We establish general conditions under which each strategy will be taken, which suggest that the truck-to-car VOT ratio, the total traffic demand, and the difference in travel distance between the two roads are critical in shaping the firm’s strategy. In particular, the car-strategy is likely to prevail under practical conditions. We then consider mixed travel behaviors of cars and trucks in that trucks choose routes deterministically, while cars follow stochastic user equilibrium in route choice. We find that, depending on the per-truck pavement damage cost, the firm may take a car-strategy, a truck-strategy, or a car-truck mixed strategy. The perception error of car users, the VOTs and traffic demands of cars and trucks are critical in shaping the firm’s strategy.

 

Lecurer:

Dr. Xiaolei Guo is an associate professor in the Odette School of Business at the University of Windsor, Ontario, Canada. He is also affiliated with the Cross-Border Institute at the University of Windsor. He holds a B.S. degree from Tsinghua University, received his PhD degree from the Hong Kong University of Science and Technology, and worked as a post-doctoral associate at the University of Minnesota. His primary research interests are in the areas of road pricing, infrastructure planning, transportation network modeling, optimization of complex systems, and supply chain management. He has many publications in top journals such as Transportation Research Part B. He serves as an associate editor at Journal of Management Science and Engineering.