Joint seminar with the GERAD-Canada Research Chair in Distribution Management-Canada Research Chair in Logistics and Transportation
TITLE: Elastic demand and recent advances in transit technology choice
SPEAKER: Luigi Moccia, Institute of High Performance Computing and Networking of the National Research Council (ICAR-CNR), Italy
DATE and VENUE: August 29, 2018, 10h30, room 5441, André-Aisenstadt Building, Université de Montréal Campus
ORGANIZER: Gilbert Laporte
ABSTRACT: This talk deals with optimization models of a transit line which can be used to strategically evaluate technology choices such as bus rapid transit, light rail transit, metro, or commuter rail. The main topic is the effect of demand elasticity on the technology choice under a range of objective functions having as two extrema the maximization of operator’s profit and the maximization of social welfare. Analytic and numerical comparisons with some fixed demand models show that accounting for demand elasticity does not change the conclusions that can be derived by an equivalent fixed demand model. This invariance holds for a broad range of objective functions in the elastic case. The significant difference between the two objective function extrema lies in the proportions of captured demand. Recent improvements of fixed demand models will be discussed in the last part of the talk.