Informace o publikaci

Finding Equilibrium in a Monopoly Passenger Railway Market: A Comparison of Agent-Based Simulations with Theoretical Predictions

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KRČÁL Ondřej

Rok publikování 2014
Druh Článek ve sborníku
Konference Hradec Economic Days 2014
Fakulta / Pracoviště MU

Ekonomicko-správní fakulta

Citace
Obor Ekonomie
Klíčová slova railway; Salop; monopoly; price; timetable
Přiložené soubory
Popis This paper presents an agent-based model of passenger rail services. It provides an algorithm that is able to find the optimal price and timetable for a service provided by a monopoly train operating company. For testing the efficiency of the algorithm, it presents a simplified setting in which the equilibrium price and timetable can be found analytically using the Salop model of competition. The paper finds that the algorithm approximates well the predicted price and timetable and that an increase in the equilibrium number of trains in the market reduces the efficiency of the algorithm.
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