Auction-based tolling systems in a connected and automated vehicles environment: Public opinion and implications for toll revenue and capacity utilization

Basar, Gulsevi; Cetin, Mecit

doi:10.1016/j.trc.2017.06.006

Cited by 15 publications

(6 citation statements)

References 30 publications

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“…The auction mechanism, as an effective pricing method, has been widely used in many fields (Huang and Xu, 2013;Basar and Cetin, 2017;Xiao and Xu, 2018;Shao et al, 2020;Liu et al, 2022;Cheng et al, 2023). An auction relies on the bids of participants to determine reasonable pricing to achieve effective resource allocation (McAfee and McMillan, 1987).…”

Section: Auction Mechanismmentioning

confidence: 99%

Toward resilient cloud warehousing via a blockchain-enabled auction approach

Feng

2023

Front. Eng. Manag.

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Cloud warehousing service (CWS) has emerged as a promising third-party logistics service paradigm driven by the widespread use of e-commerce. The current CWS billing method is typically based on a fixed rate in a coarse-grained manner. This method cannot reflect the true service value under the fluctuating ecommerce logistics demand and is not conducive to CWS resilience management. Accordingly, a floating mechanism can be considered to introduce more flexible billing. A CWS provider lacks sufficient credibility to implement floating mechanisms because it has vested interests in terms of fictitious demand. To address this concern, this report proposes a blockchain-enabled floating billing management system as an overall solution for CWS providers to enhance the security, credibility, and transparency of CWS. A one-sided Vickrey-Clarke-Groves (O-VCG) auction mechanism model is designed as the underlying floating billing mechanism to reflect the realtime market value of fine-grained CWS resources. A blockchain-based floating billing prototype system is built as an experimental environment. Our results show that the O-VCG mechanism can effectively reflect the real-time market value of CWSs and increase the revenue of CWS providers. When the supply of CWS providers remains unchanged, allocation efficiency increases when demand increases. By analyzing the performance of the O-VCG auction and comparing it with that of the fixed-rate billing model, the proposed mechanism has more advantages. Moreover, our work provides novel managerial insights for CWS market stakeholders in terms of practical applications.

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Section: Auction Mechanismmentioning

confidence: 99%

Toward resilient cloud warehousing via a blockchain-enabled auction approach

Feng

2023

Front. Eng. Manag.

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“…Introducing ETC involves many issues (Lee et al, 2008) such as system complexity, construction and maintenance costs, pricing, privacy, and rates of costs (Vats et al, 2014;Gates and Savolainen, 2016;Basar and Cetin, 2017;Heras-Molina et al, 2019;Han et al, 2020). ETC technology is sophisticated, consisting of elements of Dedicated Short Range Communications (DSRC), Global Positioning Systems (GPS); Geographic Information Systems (GIS); Vehicle Positioning Systems (VPS) and; Infrared Short Range Communication (ISRC) based on calm active infrared (Iseki and Demisch, 2012;Vats et al, 2014).…”

Section: Key Etc Considerations Outlined In the Literature To Datementioning

confidence: 99%

Political and technical complexities of electronic toll collection: Lessons from Taiwan

Tseng

Pilcher

2022

Case Studies on Transport Policy

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“…This method is most advantageous when public agencies desire to have greater risk ownership and where significant revenue variability is expected [12]. When the owners take greater ownership of risk on highly congested roads (at least 30-min deadlock at peak hours without a toll), the owner could increase revenue by 70% versus traditional models [13]. Chen et al [14] present a modified, hybrid tolling model which includes a greater level of risk/reward sharing across the public and private entities.…”

Section: Sponsor Project Company Sponsor Tolling Companymentioning

confidence: 99%

The Efficacy of the Tolling Model’s Ability to Improve Project Profitability on International Steel Plants

2019

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To overcome profitability deterioration in executing steel price projects, companies are seeking overseas expansion, which increases market size while reducing profit certainty. Special purpose companies (SPCs) have been found to better manage these risks through tolling agreements which transfer the local pricing volatility risks (raw material, steel sales, licensing and income tax) to the project sponsor. The energy market has benefited from policy changes allowing the use of the tolling model, finding an increase in profitability for both project sponsors and SPCs through more effective risk sharing. While successes have been published in the energy, gas, and highway sectors, the tolling model’s efficacy has yet to be tested on the steel sector. As such, this research adds to the existing body of knowledge by testing the financial feasibility of using the tolling model on three million ton/year capacity steel projects. The data analyzed has been collected from “Company A”, a company with 50 years of domestic and 20 years international steel-iron plant project execution and operation experience. An economic analysis is performed on the best, most likely, and worst-case cost/revenue scenarios of a virtual project (which represents the average of all Company A projects) and two Company A projects under construction/operation. The findings support the use of the tolling model in volatile markets, showing a net present value (NPV) profitability increase of up to $940 versus the traditional project company model under worst case market conditions. However, the traditional project company model was found to be superior in best case market conditions. With these findings, international steel companies are able to consider alternative financing structures when executing projects in volatile markets, potentially resulting in greater project sponsor and SPC profit.

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Auction-based tolling systems in a connected and automated vehicles environment: Public opinion and implications for toll revenue and capacity utilization

Cited by 15 publications

References 30 publications

Toward resilient cloud warehousing via a blockchain-enabled auction approach

Toward resilient cloud warehousing via a blockchain-enabled auction approach

Political and technical complexities of electronic toll collection: Lessons from Taiwan

The Efficacy of the Tolling Model’s Ability to Improve Project Profitability on International Steel Plants

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