VALUE-OF-TIME DISTRIBUTIONS AND COMPETITIVE BUS SERVICES
planning - service quality, policy - fares, economics - value of time, organisation - competition, mode - bus
Value of time, Service quality, Quality of service, Passenger service quality, Motor coaches, Minibuses, Miniature buses, Intracity bus transportation, Fares, Equilibrium (Economics), Competition, Buses, Bus transit
Value-of-time (VOT) distributions can affect price and quality competition among three different modes of travel (private car, higher quality, higher fare minibus and lower-fare, lower-quality conventional bus)in a deregulated urban environment. A theoretical model was developed to account for competitive equilibrium between the minibus and conventional bus in terms of each bus company's optimal frequency and fare. A continuous VOT distribution shows how the minibuses can co-exist and compete with the conventional bus service. Bus operators can use this model to choose the best service quantity, quality and vehicle size to meet their competitive objective.
Yang, H, Kong, H, Meng, Q, (2001). VALUE-OF-TIME DISTRIBUTIONS AND COMPETITIVE BUS SERVICES. Transportation Research Part E: Logistics and Transportation Review, Volume 37, Issue 6, p. 411-424.