Pricing for a last-mile transportation system
The Last-Mile Problem refers to the provision of travel service from the nearest public transportation node to a home or other destination. Last-Mile Transportation System (LMTS), which has recently emerged, provide on-demand shared transportation. We consider an LMTS with multiple passenger types—a...
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sg-smu-ink.sis_research-48742020-03-31T02:58:40Z Pricing for a last-mile transportation system CHEN, Yiwei WANG, Hai The Last-Mile Problem refers to the provision of travel service from the nearest public transportation node to a home or other destination. Last-Mile Transportation System (LMTS), which has recently emerged, provide on-demand shared transportation. We consider an LMTS with multiple passenger types—adults, senior citizens, children, and students. The LMTS designer determines the price for the passengers, last-mile service vehicle capacity, and service fleet size (number of vehicles) for each last-mile region to maximize the social welfare generated by the LMTS. The level of last-mile service (in terms of passenger waiting time) is approximated by using a batch arrival, batch service, multi-server queueing model. The LMTS designer's optimal decisions and optimal social welfare are obtained by solving a constrained nonlinear optimization problem. Our model is implemented in numerical experiments by using real data from Singapore. We show the optimal annual social welfare gained is large. We also analyze a counterpart LMTS in which the LMTS designer sets an identical price for all passenger types. We find that in the absence of price discounts for special groups of passengers, social welfare undergoes almost no change, but the consumer surplus of passengers in special groups suffers significantly. 2018-01-01T08:00:00Z text application/pdf https://ink.library.smu.edu.sg/sis_research/3872 info:doi/10.1016/j.trb.2017.11.008 https://ink.library.smu.edu.sg/context/sis_research/article/4874/viewcontent/Pricing_Last_Mile_Trans_av.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School Of Computing and Information Systems eng Institutional Knowledge at Singapore Management University Last-mile Pricing Multi-type passengers Social welfare Singapore Artificial Intelligence and Robotics Asian Studies Transportation |
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Last-mile Pricing Multi-type passengers Social welfare Singapore Artificial Intelligence and Robotics Asian Studies Transportation CHEN, Yiwei WANG, Hai Pricing for a last-mile transportation system |
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The Last-Mile Problem refers to the provision of travel service from the nearest public transportation node to a home or other destination. Last-Mile Transportation System (LMTS), which has recently emerged, provide on-demand shared transportation. We consider an LMTS with multiple passenger types—adults, senior citizens, children, and students. The LMTS designer determines the price for the passengers, last-mile service vehicle capacity, and service fleet size (number of vehicles) for each last-mile region to maximize the social welfare generated by the LMTS. The level of last-mile service (in terms of passenger waiting time) is approximated by using a batch arrival, batch service, multi-server queueing model. The LMTS designer's optimal decisions and optimal social welfare are obtained by solving a constrained nonlinear optimization problem. Our model is implemented in numerical experiments by using real data from Singapore. We show the optimal annual social welfare gained is large. We also analyze a counterpart LMTS in which the LMTS designer sets an identical price for all passenger types. We find that in the absence of price discounts for special groups of passengers, social welfare undergoes almost no change, but the consumer surplus of passengers in special groups suffers significantly. |
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CHEN, Yiwei WANG, Hai |
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CHEN, Yiwei WANG, Hai |
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CHEN, Yiwei |
title |
Pricing for a last-mile transportation system |
title_short |
Pricing for a last-mile transportation system |
title_full |
Pricing for a last-mile transportation system |
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Pricing for a last-mile transportation system |
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Pricing for a last-mile transportation system |
title_sort |
pricing for a last-mile transportation system |
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Institutional Knowledge at Singapore Management University |
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2018 |
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https://ink.library.smu.edu.sg/sis_research/3872 https://ink.library.smu.edu.sg/context/sis_research/article/4874/viewcontent/Pricing_Last_Mile_Trans_av.pdf |
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