【Beihang Economics and Business Academic Forum 】
Title:The discrete-time second-best dynamic road pricing scheme
Lecturer:Wang Zhiwei,Nanyang Technological University (Singapore).
Time:2017.7.16 16:00-17:30
Location:New Main BuildingA716
Invited by:Prof. Tian Qiong
Abstract:
Congestion pricing is widely recognized as an efficient instrument for alleviating road congestion. Most of existing road pricing scheme are developed based on traffic equilibrium model. The equilibrium can be looked as a traffic state desired by traffic management authorities. However, when the traffic system has multiple equilibria if the initial traffic state falls beyond the attraction domain, it may not converge to the desired equilibrium under the pricing based on the traffic equilibrium through a day-to-day adjustment process (Bie and Lo, 2010). In this study, we aim to develop a more practical second-best dynamic road pricing scheme implemented on a subset of links, which can drive the traffic evolution towards the desired second-best traffic user equilibrium state from any initial traffic state. This second-best dynamic pricing scheme has the following characteristics: (i) the dynamic pricing is discrete-time scheme, as opposed to most of existing continuous dynamic pricing scheme; (ii) the derivation of the dynamic pricing is applicable to very general day-to-day traffic dynamic model; (iii) the dynamic pricing can direct the traffic system to converge to the desired equilibrium from any initial traffic state even multiple equilibria exist. This study also presents rigorous proofs and numerical tests to verify above these characteristics of our dynamic pricing scheme.
About the lecturer:
Dr. Zhiwei WANG is an assistant professor in the School of Civil and Environmental Engineering at Nanyang Technological University (Singapore). He received his PhD from the Department of Civil & Environmental Engineering at Hong Kong University of Science and Technology in 2008. His research topics include optimal transportation infrastructure design, analyzing interaction between urban development and transportation planning, public transportation operation and design. He has published more than 45 articles on the top transportation journals. He serves as an Associate Editor in the editorial board of Transportmetrica A: Transport Science. He is editorial board member of International Journal of Transportation Science and Technology. As a Principle Investigator, Dr. Wang has secured over S$2 million in external research grants since 2010. The majority (about S$1.7 million) was awarded by highly competitive Academic Research Fund (AcRF) Tier 2 Research Grant by Ministry of Education (MOE) of Singapore. He received Fred Burggraf Award from Transportation Research Board (TRB) of the National Research Councils of the United States in 2016; Tan Chin Tuan Exchange Fellowship in Engineering at NTU in 2017.
