Title :
Price competition between intercity railway and bus
Author :
Jia, Wang ; Xinmiao, Yang
Author_Institution :
Dept. of Civil Eng., Tsinghua Univ., Beijing, China
Abstract :
Ticket price is the key factor in the competition between intercity railway and bus. The relationship between intercity transit demand is set up according to the ticket prices. Logit model is used to establish the mode split in intercity transit system. Then the profit functions of both companies are presented. Based on the profit functions, a price game model is prop0sed to discuss the competition between intercity railway and bus. The existence and computing method of the Nash equilibrium price solutions are proposed. The conclusions of this research are useful to managers for their operations with intercity public transit system.
Keywords :
game theory; pricing; railways; transportation; Nash equilibrium price solution; computing method; intercity bus; intercity public transit system; intercity railway; intercity transit demand; mode split; price competition; price game model; profit function; ticket price logit model; Companies; Games; Mathematical model; Modeling; Nash equilibrium; Rail transportation; Nash equilibrium; bus; intercity railway; price game;
Conference_Titel :
Business Management and Electronic Information (BMEI), 2011 International Conference on
Conference_Location :
Guangzhou
Print_ISBN :
978-1-61284-108-3
DOI :
10.1109/ICBMEI.2011.5914440
