A Dynamic Programming Model for Operation Decision-Making in Bicycle Sharing Systems under a Sustainable Development Perspective

Linfeng Li, Miyuan Shan, Ying Li and Sheng Liang
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Linfeng Li: Department of Management Science and Engineering, Business School of Hunan University, Changsha 410082, China
Miyuan Shan: Department of Management Science and Engineering, Business School of Hunan University, Changsha 410082, China
Ying Li: Department of Management Science and Engineering, Business School of Hunan University, Changsha 410082, China
Sheng Liang: Department of Management Science and Engineering, Business School of Hunan University, Changsha 410082, China

Sustainability, 2017, vol. 9, issue 6, 1-21

Abstract: Maintaining a balance between revenue and expenditure is the key to the sustainable development of a bicycle sharing system (BSS), and is a challenge for almost all systems worldwide. This article proposes a dynamic programming approach to obtain the optimal strategy to maximize the revenue of overall BSS. The Variable Granularity-Depth First Search (VG-DFS) algorithm is designed to speed up the solution. A numerical experiment is presented to verify the applicability of the model through a comparison with real data from the BSS in Hangzhou. Results indicated that the BSS could achieve break-even, or even obtain a substantial income by utilizing our model to make operational decisions, especially when the region it is located in has a relatively high GDP. Moreover, the best investment strategy proved is to involve stations in the initial construction period of the BSS as much as possible.

Keywords: bicycle sharing system; dynamic programming model; Stackelberg game; sustainable development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (5)

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