EconPapers    
Economics at your fingertips  
 

Introducing and testing a game-theoretic model for a lottery-based metering system in Minneapolis, United States

Rafael Olarte and Ali Haghani

Transport Policy, 2018, vol. 62, issue C, 63-78

Abstract: This paper is part of an ongoing research that analyzes the feasibility of implementing “buyout” auctions for metering traffic inflow at special use lanes (such as high-occupancy/toll lanes). The term “buyout” refers to the fact that these games allow skipping the auction by paying a price. The ongoing research suggests that high consideration needs to be put on the road design before developing a game-theoretic model. It also suggests that from an operations point of view, if a “buyout lottery” system can be implemented successfully, then its conversion to a buyout auction system becomes straightforward. Therefore, this paper aims at: (1) testing a buyout lottery-based metering (LBM) system in a real case scenario, and (2) introducing a game-theoretic model that recommends to its users the strategy to adopt when deciding between paying the toll or playing the lottery.

Keywords: Toll; Lottery; Auction; Metering; Risk-averse; Managed lanes (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0967070X17301075
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:trapol:v:62:y:2018:i:c:p:63-78

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_1&version=01

Access Statistics for this article

Transport Policy is currently edited by Y. Hayashi

More articles in Transport Policy from Elsevier
Series data maintained by Dana Niculescu ().

 
Page updated 2018-02-24
Handle: RePEc:eee:trapol:v:62:y:2018:i:c:p:63-78