Katsifaraki, Georgia D. (KIOS Research and Innovation Centre of Excellence, University of), Menelaou, Charalambos (University of Cyprus, KIOS CoE), Timotheou, Stelios (University of Cyprus), Panayiotou, Christos (University of Cyprus)

Modeling framework for dynamic pricing in macroscopic urban road networks

Scheduled for presentation during the Poster Session "Travel Behavior Under ITS" (WeAT16), Wednesday, September 25, 2024, 10:30−12:30, Foyer

2024 IEEE 27th International Conference on Intelligent Transportation Systems (ITSC), September 24- 27, 2024, Edmonton, Canada

This information is tentative and subject to change. Compiled on October 7, 2024

Abstract

We present a conceptual framework for applying pricing in macroscopic traffic networks, focusing on how traffic flows route themselves when path prices are utilized to manage demand at a macroscopic level. We define the minimum disutility mechanism that guides flows in macroscopic traffic networks, and illustrate the guiding process of flows under the effect of pricing, utilizing simple road network structures. The suggested mechanism forms the cornerstone of the conceptual framework for dynamic pricing in a macroscopic setting, as described herein. This framework highlights that, within a priced network, implementing a dynamic pricing policy to adjust path prices and equalize their disutilities can effectively distribute demand across both spatial and temporal dimensions. To ensure an efficient demand distribution, and thereby keep the network at the non-congested regime, an adequate availability of spatiotemporal paths is required however, both with and without perfect routing information.