Abstract
In this study, a theoretical framework is developed in order to assess the viability of transport infrastructure investment in the form of High Speed Rail (HSR) by assessing, the mode choice behaviour of the passengers and the strategies of the operators, in the hypothetical scenario. Discrete choice modelling (DCM) integrated with a game theoretic approach is used to model this dynamic market scenario. DCM is incorporated to predict the mode choice behaviour of the passengers in the new scenario and the change in the existing market equilibrium and strategies of the operators due to the entry of the new mode is analysed using the game theoretic approach. The outcome of this market game will describe the strategies for operators corresponding to Nash equilibrium. In conclusion, the impact of introduction of HSR is assessed in terms of social welfare by analysing the mode choice behaviour and strategic decision making of the operators, thus reflecting on the economic viability of the transport infrastructure investment.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
