Optimal Tradable Credit Scheme Design with Recommended Credit Price
As an interesting research topic in transportation field, tradable credit scheme (TCS) has been extensively explored in the latest decade. Existing studies implicitly assumed that travelers are clear about the equilibrium credit price and make their trips accordingly. However, this may not be the ca...
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| Format: | Article |
| Language: | English |
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Wiley
2021-01-01
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| Series: | Journal of Advanced Transportation |
| Online Access: | http://dx.doi.org/10.1155/2021/6688803 |
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| _version_ | 1832550881594179584 |
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| author | Fang Zhang Jian Lu Xiaojian Hu |
| author_facet | Fang Zhang Jian Lu Xiaojian Hu |
| author_sort | Fang Zhang |
| collection | DOAJ |
| description | As an interesting research topic in transportation field, tradable credit scheme (TCS) has been extensively explored in the latest decade. Existing studies implicitly assumed that travelers are clear about the equilibrium credit price and make their trips accordingly. However, this may not be the case in reality, since the credit price is endogenously determined by the credit-trading behavior, especially in the early stages after the implementation of a TCS. Considering travelers’ uncertainty on the equilibrium credit price, this paper aims to investigate the impacts of perception error on credit price and how to accommodate such errors by an appropriate scheme design. Transferring the perception error on credit price to a given and fixed value released by central authority, we first investigate the impacts of recommended credit price under a given TCS. The numerical results imply that it is necessary to simultaneously consider the choice of recommended credit price and charging scheme in TCS design. Regarding this, we combine the goals of social welfare and public acceptance of the scheme and propose a bilevel biobjective programming (BLBOP) model, by which the net economic benefit is maximized while the gap between the recommended and realized credit prices is minimized. Through two numerical examples, it is found that the rise in perception variance could intensify the contradiction effect between the two objectives. Additionally, a nonnegligible price gap must be allowed to occur to maintain the effectiveness of a TCS. |
| format | Article |
| id | doaj-art-063ef0cb8f394fdc807b8beebf75547d |
| institution | Kabale University |
| issn | 0197-6729 2042-3195 |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Journal of Advanced Transportation |
| spelling | doaj-art-063ef0cb8f394fdc807b8beebf75547d2025-02-03T06:05:33ZengWileyJournal of Advanced Transportation0197-67292042-31952021-01-01202110.1155/2021/66888036688803Optimal Tradable Credit Scheme Design with Recommended Credit PriceFang Zhang0Jian Lu1Xiaojian Hu2Jiangsu Key Laboratory of Urban ITS, Southeast University, Nanjing 211189, ChinaJiangsu Key Laboratory of Urban ITS, Southeast University, Nanjing 211189, ChinaJiangsu Key Laboratory of Urban ITS, Southeast University, Nanjing 211189, ChinaAs an interesting research topic in transportation field, tradable credit scheme (TCS) has been extensively explored in the latest decade. Existing studies implicitly assumed that travelers are clear about the equilibrium credit price and make their trips accordingly. However, this may not be the case in reality, since the credit price is endogenously determined by the credit-trading behavior, especially in the early stages after the implementation of a TCS. Considering travelers’ uncertainty on the equilibrium credit price, this paper aims to investigate the impacts of perception error on credit price and how to accommodate such errors by an appropriate scheme design. Transferring the perception error on credit price to a given and fixed value released by central authority, we first investigate the impacts of recommended credit price under a given TCS. The numerical results imply that it is necessary to simultaneously consider the choice of recommended credit price and charging scheme in TCS design. Regarding this, we combine the goals of social welfare and public acceptance of the scheme and propose a bilevel biobjective programming (BLBOP) model, by which the net economic benefit is maximized while the gap between the recommended and realized credit prices is minimized. Through two numerical examples, it is found that the rise in perception variance could intensify the contradiction effect between the two objectives. Additionally, a nonnegligible price gap must be allowed to occur to maintain the effectiveness of a TCS.http://dx.doi.org/10.1155/2021/6688803 |
| spellingShingle | Fang Zhang Jian Lu Xiaojian Hu Optimal Tradable Credit Scheme Design with Recommended Credit Price Journal of Advanced Transportation |
| title | Optimal Tradable Credit Scheme Design with Recommended Credit Price |
| title_full | Optimal Tradable Credit Scheme Design with Recommended Credit Price |
| title_fullStr | Optimal Tradable Credit Scheme Design with Recommended Credit Price |
| title_full_unstemmed | Optimal Tradable Credit Scheme Design with Recommended Credit Price |
| title_short | Optimal Tradable Credit Scheme Design with Recommended Credit Price |
| title_sort | optimal tradable credit scheme design with recommended credit price |
| url | http://dx.doi.org/10.1155/2021/6688803 |
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