Optimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints

Differential pricing of trains with different departure times caters to the taste heterogeneity of the time-dependent (departure time) demand and then improves the ticket revenue of railway enterprises. This paper studies optimal differential pricing for intercity high-speed railway services. The di...

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Autores principales:	Huanyin Su, Shuting Peng, Lianbo Deng, Weixiang Xu, Qiongfang Zeng
Formato:	article
Lenguaje:	EN
Publicado:	Hindawi Limited 2021
Materias:	Engineering (General). Civil engineering (General) TA1-2040 Mathematics QA1-939
Acceso en línea:	https://doaj.org/article/4d3f7bb268604460b5c69a7043248739
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spelling	oai:doaj.org-article:4d3f7bb268604460b5c69a70432487392021-11-29T00:56:47ZOptimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints1563-514710.1155/2021/8420206https://doaj.org/article/4d3f7bb268604460b5c69a70432487392021-01-01T00:00:00Zhttp://dx.doi.org/10.1155/2021/8420206https://doaj.org/toc/1563-5147Differential pricing of trains with different departure times caters to the taste heterogeneity of the time-dependent (departure time) demand and then improves the ticket revenue of railway enterprises. This paper studies optimal differential pricing for intercity high-speed railway services. The distribution features of the passenger demand regarding departure times are analyzed, and the time-dependent demand is formulated; a passenger assignment method considering departure periods and capacity constraints is constructed to evaluate the prices by simulating the ticket-booking process. Based on these, an optimization model is constructed with the aim of maximizing the ticket revenue and the decision variables for pricing train legs. A modified direct search simulated annealing algorithm is designed to solve the optimization model, and three random generation methods of new solutions are developed to search the solution space efficiently. Experimental analysis containing dozens of trains is performed on Wuhan-Shenzhen high-speed railway in China, and price solutions with different elastic demand coefficients (ϕ) are compared. The following results are found: (i) the optimization algorithm converges stably and efficiently and (ii) differentiation is shown in the price solutions, and the optimized ticket revenue is influenced greatly by ϕ, increasing by 7%–21%.Huanyin SuShuting PengLianbo DengWeixiang XuQiongfang ZengHindawi LimitedarticleEngineering (General). Civil engineering (General)TA1-2040MathematicsQA1-939ENMathematical Problems in Engineering, Vol 2021 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Engineering (General). Civil engineering (General) TA1-2040 Mathematics QA1-939
spellingShingle	Engineering (General). Civil engineering (General) TA1-2040 Mathematics QA1-939 Huanyin Su Shuting Peng Lianbo Deng Weixiang Xu Qiongfang Zeng Optimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints
description	Differential pricing of trains with different departure times caters to the taste heterogeneity of the time-dependent (departure time) demand and then improves the ticket revenue of railway enterprises. This paper studies optimal differential pricing for intercity high-speed railway services. The distribution features of the passenger demand regarding departure times are analyzed, and the time-dependent demand is formulated; a passenger assignment method considering departure periods and capacity constraints is constructed to evaluate the prices by simulating the ticket-booking process. Based on these, an optimization model is constructed with the aim of maximizing the ticket revenue and the decision variables for pricing train legs. A modified direct search simulated annealing algorithm is designed to solve the optimization model, and three random generation methods of new solutions are developed to search the solution space efficiently. Experimental analysis containing dozens of trains is performed on Wuhan-Shenzhen high-speed railway in China, and price solutions with different elastic demand coefficients (ϕ) are compared. The following results are found: (i) the optimization algorithm converges stably and efficiently and (ii) differentiation is shown in the price solutions, and the optimized ticket revenue is influenced greatly by ϕ, increasing by 7%–21%.
format	article
author	Huanyin Su Shuting Peng Lianbo Deng Weixiang Xu Qiongfang Zeng
author_facet	Huanyin Su Shuting Peng Lianbo Deng Weixiang Xu Qiongfang Zeng
author_sort	Huanyin Su
title	Optimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints
title_short	Optimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints
title_full	Optimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints
title_fullStr	Optimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints
title_full_unstemmed	Optimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints
title_sort	optimal differential pricing for intercity high-speed railway services with time-dependent demand and passenger choice behaviors under capacity constraints
publisher	Hindawi Limited
publishDate	2021
url	https://doaj.org/article/4d3f7bb268604460b5c69a7043248739
work_keys_str_mv	AT huanyinsu optimaldifferentialpricingforintercityhighspeedrailwayserviceswithtimedependentdemandandpassengerchoicebehaviorsundercapacityconstraints AT shutingpeng optimaldifferentialpricingforintercityhighspeedrailwayserviceswithtimedependentdemandandpassengerchoicebehaviorsundercapacityconstraints AT lianbodeng optimaldifferentialpricingforintercityhighspeedrailwayserviceswithtimedependentdemandandpassengerchoicebehaviorsundercapacityconstraints AT weixiangxu optimaldifferentialpricingforintercityhighspeedrailwayserviceswithtimedependentdemandandpassengerchoicebehaviorsundercapacityconstraints AT qiongfangzeng optimaldifferentialpricingforintercityhighspeedrailwayserviceswithtimedependentdemandandpassengerchoicebehaviorsundercapacityconstraints
_version_	1718407642010877952

Optimal Differential Pricing for Intercity High-Speed Railway Services with Time-Dependent Demand and Passenger Choice Behaviors under Capacity Constraints

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