Managing the Morning Commute Problem with Tradable Credit Schemes under a Fully Autonomous Vehicle Environment

Abstract

This study investigates the morning commute problem in a single corridor with a bottleneck under a fully automated vehicle environment. By extending Vickrey’s bottleneck model, we formulate the joint decisions on departure time and parking choices of morning commuters who make trade-offs among travel cost, the cost associated with parking, and the cost of tradable credits. To alleviate traffic congestion and improve social welfare, we propose a time-varying tradable credit scheme and integrate it with the morning commute problem. We explore the travel patterns and the optimal design of tradable credit schemes for the morning commute problem with homogeneous and heterogeneous commuters, respectively. For the homogeneous case, we derive the conditions on the tradable credit scheme to ensure the existence of equilibrium. The system-wide travel cost decreases with parking density after tradable credits are incorporated. Additionally, the efficiency of the tradable credits scheme can be improved by increasing the rate of credit charge rate. For the heterogeneous case, we propose an initial distribution strategy and combine it with the optimal tradable credit in order to guarantee social equity. The commuters with a low value of time (VOT) should be allocated more credits and the commuters with high VOT should be charged more credits. For both cases at system optimum, we find that the equilibrium price of tradable credits increases with parking density and decreases with the total amount of tradable credits.