Driver behavior under congestion pricing is analyzed in this study to evaluate the effects of alternative congestion pricing schemes. The analysis, which is based on stated-preference survey results, focuses on time allocation, departure time choice and route choice when a congestion pricing scheme is implemented on toll roads. A unique feature of the model system of this study is that departur...

We examine the effects of real-time pricing on welfare and consumer surplus in electricity markets. model consumers who purchase wholesale market. A second group contracts with retailers pays time-invariant retail prices. Electricity generating firms compete supply functions. Increasing number increases both types consumers. Yet, risk averse traditional prices are always better off. Collectivel...

Abstract   We extend the concept of dynamic pricing by integrating it with “overselling with opportunistic cancellation” option, within the framework of dynamic policy. Under this strategy, to sell a stock of perishable product (or capacity) two prices are offered to customers at any given time period. Customers are categorized as high-paying and low-paying ones. The seller deliberately oversel...