7- TransportationSupply - FACILITY-SPECIFIC BACKWARD...

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PRICE QUANTITY Marginal Cost or Supply Curve Marginal Revenue or Demand Curve Equilibrium point GENERAL SUPPLY FUNCTIONS AND EQUILIBRIUM
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TRAVEL “SUPPLY” FUNCTIONS Cost of travel includes perceived : Out of pocket cost ($) Travel time Comfort Convenience Safety Reliability etc.
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DERIVATION OF TRAVEL “SUPPLY” FUNCTIONS VOLUME DENSITY Jam density Maximum flow = Capacity Fundamental Traffic Flow Diagrams
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DERIVATION OF TRAVEL “SUPPLY” FUNCTIONS FLOW Free-flow Speed Maximum flow = Capacity SPEED Fundamental Traffic Flow Diagrams
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TRAVEL “SUPPLY” FUNCTIONS (Price-Volume Curves) VOLUME OF TRAVEL PERCEIVED PRICE OF TRAVEL (USER COST) CAPACITY
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ISSUES: PUBLIC versus PRIVATE SECTOR AVERAGE (not marginal) COST SHAPE in relation to CAPACITY (volume-capacity ratio) SHIFTS (short, medium term)
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Unformatted text preview: FACILITY-SPECIFIC BACKWARD BENDING (relationship to fundamental diagram of traffic flow) CONGESTION PRICING Price (Travel time ) Volume (v) Capacity (c ) Average Travel Time t Price (Travel time ) Volume (v) Capacity (c ) Average Travel Time Demand User-Equilibrium Flow t Price (Travel time ) Volume (v) Capacity (c ) Average Travel Time Marginal Travel Time Demand User-Equilibrium Flow t Price (Travel time ) Volume (v) Capacity (c ) Average Travel Time Marginal Travel Time Demand User-Equilibrium Flow System-Optimum Flow t Price (Travel time ) Volume (v) Capacity (c ) Average Travel Time Marginal Travel Time Demand Congestion Price { User-Equilibrium Flow System-Optimum Flow t...
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7- TransportationSupply - FACILITY-SPECIFIC BACKWARD...

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