Ticket Fare Optimization for China’s High-Speed Railway Based on Passenger Choice Behavior
Although China’s high-speed railway (HSR) is maturing after more than ten years of construction and development, the load factor and revenue of HSR could still be improved by optimizing the ticket fare structure. Different from the present unitary and changeless fare structure, this paper explores t...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2017-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2017/6237642 |
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| _version_ | 1832560574989336576 |
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| author | Jinzi Zheng Jun Liu David B. Clarke |
| author_facet | Jinzi Zheng Jun Liu David B. Clarke |
| author_sort | Jinzi Zheng |
| collection | DOAJ |
| description | Although China’s high-speed railway (HSR) is maturing after more than ten years of construction and development, the load factor and revenue of HSR could still be improved by optimizing the ticket fare structure. Different from the present unitary and changeless fare structure, this paper explores the application of multigrade fares to China’s HSR. On the premise that only one fare grade can be offered for each origin-destination (O-D) at the same time, this paper addresses the questions of how to adjust ticket price over time to maximize the revenue. First, on the basis of piecewise pricing strategy, a ticket fare optimization model is built, which could be transformed to convex program to be solved. Then, based on the analysis of passenger arrival regularity using historical ticket data of Beijing-Shanghai HSR line, several experiments are performed using the method proposed in the paper to explore the properties of the optimal multigrade fare scheme. |
| format | Article |
| id | doaj-art-0854f3c2ee3e462aae0fdbda88e96485 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2017-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-0854f3c2ee3e462aae0fdbda88e964852025-02-03T01:27:11ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2017-01-01201710.1155/2017/62376426237642Ticket Fare Optimization for China’s High-Speed Railway Based on Passenger Choice BehaviorJinzi Zheng0Jun Liu1David B. Clarke2School of Traffic and Transportation, Beijing Jiaotong University, Beijing 100044, ChinaSchool of Traffic and Transportation, Beijing Jiaotong University, Beijing 100044, ChinaUniversity of Tennessee, Knoxville, TN, USAAlthough China’s high-speed railway (HSR) is maturing after more than ten years of construction and development, the load factor and revenue of HSR could still be improved by optimizing the ticket fare structure. Different from the present unitary and changeless fare structure, this paper explores the application of multigrade fares to China’s HSR. On the premise that only one fare grade can be offered for each origin-destination (O-D) at the same time, this paper addresses the questions of how to adjust ticket price over time to maximize the revenue. First, on the basis of piecewise pricing strategy, a ticket fare optimization model is built, which could be transformed to convex program to be solved. Then, based on the analysis of passenger arrival regularity using historical ticket data of Beijing-Shanghai HSR line, several experiments are performed using the method proposed in the paper to explore the properties of the optimal multigrade fare scheme.http://dx.doi.org/10.1155/2017/6237642 |
| spellingShingle | Jinzi Zheng Jun Liu David B. Clarke Ticket Fare Optimization for China’s High-Speed Railway Based on Passenger Choice Behavior Discrete Dynamics in Nature and Society |
| title | Ticket Fare Optimization for China’s High-Speed Railway Based on Passenger Choice Behavior |
| title_full | Ticket Fare Optimization for China’s High-Speed Railway Based on Passenger Choice Behavior |
| title_fullStr | Ticket Fare Optimization for China’s High-Speed Railway Based on Passenger Choice Behavior |
| title_full_unstemmed | Ticket Fare Optimization for China’s High-Speed Railway Based on Passenger Choice Behavior |
| title_short | Ticket Fare Optimization for China’s High-Speed Railway Based on Passenger Choice Behavior |
| title_sort | ticket fare optimization for china s high speed railway based on passenger choice behavior |
| url | http://dx.doi.org/10.1155/2017/6237642 |
| work_keys_str_mv | AT jinzizheng ticketfareoptimizationforchinashighspeedrailwaybasedonpassengerchoicebehavior AT junliu ticketfareoptimizationforchinashighspeedrailwaybasedonpassengerchoicebehavior AT davidbclarke ticketfareoptimizationforchinashighspeedrailwaybasedonpassengerchoicebehavior |