Related papers: Modeling Toll Lanes and Dynamic Pricing Control
Dynamic pricing is a promising strategy to address the challenges of smart charging, as traditional time-of-use (ToU) rates and stationary pricing (SP) do not dynamically react to changes in operating conditions, reducing revenue for…
Here we shall consider a very popular practical applied problem of managing mode switching (in this work we are considering managing billing plans). Out of the two parties (service provider and service consumer), participating in the…
Mobility-on-demand systems are transforming the way we think about the transportation of people and goods. Most research effort has been placed on scalability issues for systems with a large number of agents and simple pick-up/drop-off…
In societal-scale infrastructures, such as electric grids or transportation networks, pricing mechanisms are often used as a way to shape users' demand in order to lower operating costs and improve reliability. Existing approaches to…
This paper focuses on multi-stage coordination for a population of thermostatically controlled loads (TCL). Each load maximizes the individual utility in response to an energy price, while the coordinator determines the price to maximize…
Transitions between two lanes often have a significant impact on various forms of road traffic. To address this problem, we have developed a two-lane asymmetric simple exclusion process model and two hypothetical traffic control strategies,…
Minimizing the peak power consumption and matching demand to supply, under fixed threshold polices, are two key requirements for the success of the future electricity market. In this work, we consider dynamic pricing methods to minimize the…
This paper presents a new dynamic pricing model (a.k.a. real-time pricing) that reflects startup costs of generators. Dynamic pricing, which is a method to control demand by pricing electricity at hourly (or more often) intervals, has been…
Simulation-based optimization (SO or SBO) has become increasingly important to address challenging transportation network design problems. In this paper, we propose to solve two toll pricing problems with different levels of complexity…
This article explores the coalitional stability of a new cooperative control policy for freeways and parallel queuing facilities with multiple servers. Based on predicted future delays per queue or lane, a VOT-heterogeneous population of…
This paper presents a novel two-level control architecture for a fully autonomous vehicle in a deterministic environment, which can handle traffic rules as specifications and low-level vehicle control with real-time performance. At the top…
Modal split prediction in transportation networks has the potential to support network operators in managing traffic congestion and improving transit service reliability. We focus on the problem of hourly prediction of the fraction of…
We consider a dynamic mechanism design problem where an auctioneer sells an indivisible good to groups of buyers in every round, for a total of $T$ rounds. The auctioneer aims to maximize their discounted overall revenue while adhering to a…
Toll optimization in a large-scale dynamic traffic network is typically characterized by an expensive-to-evaluate objective function. In this paper, we propose two toll level problems (TLPs) integrated with a large-scale simulation-based…
We study the dynamic pricing and replenishment problems under inconsistent decision frequencies. Different from the traditional demand assumption, the discreteness of demand and the parameter within the Poisson distribution as a function of…
We study dynamical transportation networks in a framework that includes extensions of the classical Cell Transmission Model to arbitrary network topologies. The dynamics are modeled as systems of ordinary differential equations describing…
The efficiency of traffic flows in urban areas is known to crucially depend on signal operation. Here, elements of signal control are discussed, based on the minimization of overall travel times or vehicle queues. Interestingly, we find…
In this paper, we propose a realistic multiple dynamic pricing approach to demand response in the retail market. First, an adaptive clustering-based customer segmentation framework is proposed to categorize customers into different groups…
Drones are currently seen as a viable way for improving the distribution of parcels in urban and rural environments, while working in coordination with traditional vehicles like trucks. In this paper we consider the parallel drone…
American options are studied in a general discrete market in the presence of proportional transaction costs, modelled as bid-ask spreads. Pricing algorithms and constructions of hedging strategies, stopping times and martingale…