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Is the travel time of private roads too short, too long, or just right?

机译:私家路的行驶时间是否太短,太长或恰到好处?

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We consider price and service-quality setting in oligopolistic markets for congestible ser-vices, applied to the case of private roads. Previous studies show that parallel competitors set a volume/capacity ratio (and thereby a travel time or service quality) that is socially optimal if they take the actions of the others as given. We find that this result does not hold when capacity and toll setting are separate stages-as then firms aim to limit toll compe-tition by setting lower capacities, and thus higher travel timesor when firms set capaci-ties sequentially, as then firms aim to limit the capacities of later entrants by setting higher capacities. In our Stackelberg competition, the last firm to act has no capacity decisions to influence. Hence, it is only concerned with the toll-competition substage, and sets a travel time that is longer than socially optimal. The first firm cares mostly about the competitors' capacities that it can influence: it sets a travel time that is shorter than socially optimal. The average travel time will be too short from a societal point of view.
机译:我们考虑将寡头垄断市场的价格和服务质量设定为适用于私人道路的拥堵服务。先前的研究表明,如果平行竞争对手采取给定的其他竞争对手的行动,则它们的体积/容量比(因此需要旅行时间或服务质量)在社会上是最佳的。我们发现,当运力和通行费设定是分开的阶段时,这个结果就不成立了,因为企业旨在通过设置较低的运力来限制通行费竞争,从而设置更长的旅行时间,或者当企业按顺序设置能力时限制通行费竞争。通过设置更高的能力来限制后来者的能力。在我们的Stackelberg竞争中,最后一个行动的公司没有影响力的决策。因此,它仅与收费竞争子阶段有关,并且将行驶时间设置为比社会上最佳的时间长。第一家公司最关心的是它可能影响竞争对手的能力:它设定的旅行时间比社会上最理想的旅行时间短。从社会的角度来看,平均旅行时间将太短。

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