The Park-and-Ride Behavior in a Cumulative Prospect Theory-Based Model
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The Park-and-Ride Behavior in a Cumulative Prospect Theory-Based Model Li-Jun Tian1 · Cheng-Rui Lyu1 · Yong-Xiang Zhao1
Received: 28 July 2015 / Revised: 19 October 2016 / Accepted: 16 February 2017 © Operations Research Society of China, Periodicals Agency of Shanghai University, Science Press, and Springer-Verlag Berlin Heidelberg 2017
Abstract As an effective travel demand management means, park-and-ride (P&R) mode is an important part of urban traffic. In a traffic corridor with P&R service, suppose that the travel time on highway is uncertain, a cumulative prospect theory (CPT)-based travel decision-making model is established with two travel modes of driving all the way and (P&R). With this setting, the effect of various factors such as the transit fare rate, the parking fee and the total travel demand on the CPT-based and expected utility theory (EUT)-based equilibrium results are compared. In addition, the sensitivity analysis focus on CPT-related parameters are also performed. The numerical results in our case show that the equilibrium flow on P&R mode is always underestimated in an EUT-based model, especially for a low total travel demand. Also, it is found that reducing the transit fare rate or parking fee for P&R station and raising the parking fee for CBD has the same effect on promoting more commuters transfer to P&R mode, whatever CPT-based or EUT-based model is employed. Furthermore, commuter’s reference dependence characteristic is also observed in a CPT-based model, and it is especially noticeable when the road uncertainty is large.
The research was supported by the National Natural Science Foundation of China (Nos. 71671044, 71301028 and 71303051), and Excellent Youth Science Foundation of Fujian Province (No. 2016J06017).
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Li-Jun Tian [email protected] Cheng-Rui Lyu [email protected] Yong-Xiang Zhao [email protected]
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School of Economics and Management, Fuzhou University, Fuzhou 350116, China
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L.-J. Tian et al.
Keywords Urban traffic · Park-and-ride · Cumulative prospect theory · Commute behavior · Equilibrium model Mathematics Subject Classification 90B06 · 90B20
1 Introduction With the rapid growth of urban population and quick expansion of city size, more and more commuters dwell in the suburb outside of the central business district (CBD). It is hence that the commuting behaviors through a traffic corridor from residence to workplace during the morning rush-hour become more and more common. Since 1930s, park-and-ride (P&R) service has been widely introduced as a travel demand management means, which allows an auto commuter to park his/her private car in a parking lot outside the CBD and then ride a public transit mode to enter the CBD. P&R mode has received wide attention from domestic and overseas scholars for its power in alleviating road traffic congestion and relieving the parking pressure in the urban center. Wang et al. [1] investigated the optimal location and pricing of a P&R facility in a linear mono-centric city. Following this work, [2] established a more genera
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