Assessing the impacts of tradable credit schemes through agent-based simulation

• URL: http://arxiv.org/abs/2502.11822v1
• Date: Mon, 17 Feb 2025 14:15:24 GMT
• Title: Assessing the impacts of tradable credit schemes through agent-based simulation
• Authors: Renming Liu, Dimitrios Argyros, Yu Jiang, Moshe E. Ben-Akiva, Ravi Seshadri, Carlos Lima Azevedo,
• Abstract summary: Tradable credit schemes (TCS) have been attracting interest from the transportation research community as an appealing alternative to congestion pricing. We propose an integrated simulation framework for modeling a TCS, and implements it within the state-of-the-art open-source urban simulation platform SimMobility.
• Score: 5.512637820094679
• License:
• Abstract: Tradable credit schemes (TCS) have been attracting interest from the transportation research community as an appealing alternative to congestion pricing, due to the advantages of revenue neutrality and equity. Nonetheless, existing research has largely employed network and market equilibrium approaches with simplistic characterizations of transportation demand, supply, credit market operations, and market behavior. Agent- and activity-based simulation affords a natural means to comprehensively assess TCS by more realistically modeling demand, supply, and individual market interactions. We propose an integrated simulation framework for modeling a TCS, and implements it within the state-of-the-art open-source urban simulation platform SimMobility, including: (a) a flexible TCS design that considers multiple trips and explicitly accounts for individual trading behaviors; (b) a simulation framework that captures the complex interactions between a TCS regulator, the traveler, and the TCS market itself, with the flexibility to test future TCS designs and relevant mobility models; and (c) a set of simulation experiments on a large mesoscopic multimodal network combined with a Bayesian Optimization approach for TCS optimal design. The experiment results indicate network and market performance to stabilize over the day-to-day process, showing the alignment of our agent-based simulation with the known theoretical properties of TCS. We confirm the efficiency of TCS in reducing congestion under the adopted market behavioral assumptions and open the door for simulating different individual behaviors. We measure how TCS impacts differently the local network, heterogeneous users, the different travel behaviors, and how testing different TCS designs can avoid negative market trading behaviors.

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