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APOD Abstract for presentation (Poster or Podium) with a Paper in the Conference Proceedings

Public Transport

1665457 - Assessment of Automated Transit Network versus Monorail System Using Real Options Approach

Monday, June 17, 2024
1:30 PM - 1:50 PM ET
Room: 222
Abstract:

The integration of on-demand services, autonomous driving, and carpooling technologies in automated transit systems (ATN) is becoming a highly feasible option for future urban travel. ATN also echoes with the environmental awareness to reduce carbon emissions in response to climate change. Nevertheless, a dynamic systems simulation is needed to fully understand the effectiveness of ATN to alleviate traffic congestion caused by urban sprawl. With limited exploration on how ATN can impact urban commuting behavior, we attempt to apply a real option approach to measure and analyze the comparative impacts of ATN versus Monorail systems based on data collected from future project of Dark Green Line in the Tainan Metro System. We collect cost data and questionnaires from potential passengers to understand user’s acceptance and preference towards the two systems. This data is then integrated and calibrated so as to formulate equations for system dynamics simulation to obtain predicted patronage. By incorporating these predictions, we then apply the real option method to calculate future payoffs for ATN and Monorail systems to determine the most preferable alternative for Dark Green Line.

Learning Objectives:

Attendees can expect to learn the following from this session:
  • Upon completion, participant will be able to learn the practice of system dynamics and real option method.
  • Upon completion, participant will be able to understand the features regarding automated transit network and monorail system.
  • Upon completion, participant will be able to fully comprehend the benefit of using real option method into project assessment.