Evolutionary Game Model of Private Capital Investment in Urban Public Transportation

  • Yunqiang Xue
  • Hongzhi Guan
  • Jonathan Corey
  • Heng Wei
Transportation Engineering
  • 2 Downloads

Abstract

To address the previous researches’ shortcomings on private capital investment in public transportation, a new private capital investment method in public transportation considering passenger value is proposed. An Evolutionary Game Model (EGM) is constructed to quantify the impacts of private capital investment. Evolutionary Game Theory (EGT) supposes players are bounded rational; therefore EGM is more in accordance with the real situation. Jinan city is detailed as a case study to show how public and private sectors change their strategies. Model results show that the proposed investment strategy is superior to the traditional one and is evolutionary stable, thus the strategy should be encouraged. The EGM established in this paper provides a quantitative analysis tool for administrators and researchers to guide investment strategies of private capital in public transportation and lays the foundation for further research.

Keywords

public transportation public-private partnerships evolutionary game theory customer value travel mode choice 

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Copyright information

© Korean Society of Civil Engineers 2018

Authors and Affiliations

  • Yunqiang Xue
    • 1
  • Hongzhi Guan
    • 2
  • Jonathan Corey
    • 3
  • Heng Wei
    • 3
  1. 1.High-speed Rail and Regional Development Research Center of Jiangxi ProvinceEast China Jiao Tong UniversityNanchangChina
  2. 2.Beijing University of TechnologyBeijingChina
  3. 3.ART-Engines Transportation Research LabUniversity of CincinnatiCincinnatiUSA

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