VALUE-OF-TIME DISTRIBUTIONS AND COMPETITIVE BUS SERVICES

摘要: Abstract The effect of value-of-time (VOT) distributions on price and quality competition among differentiated bus services in a simple corridor is investigated. Three travel modes are considered: private car; higher-quality, higher-fare minibuses; lower-fare, lower-quality conventional buses. With given continuous distribution VOT, users assumed to minimize individual generalized trip cost divide themselves the three that time monetary cost. Competitive equilibrium established terms each firm's optimal frequency fare; also, profitability two types service examined.