Roman Zakharenko's visit to CMSSE and talk on Traffic priority mechanisms

CMSSE is happy to invite everyone to the research seminar in Economics and Econometrics where Roman Zakharenko (PhD, associate professor HSE Moscow) will give a talk on "Traffic priority mechanisms" (forthcoming in “Transportation Science”, best overall paper award in the 2018 International Transportation Economics Association conference). 
Date & Time: December, 5, 18:00-19:30
Place: 27 Fontanka river embankment, PDMI RAS, Marble hall (2nd floor)

Abstract. In the future world of self-driving vehicles, intersections will be managed by computers thatsend individual commands to each passing vehicle. This paper proposes to make trafficpriority contingent on self-reported value of time of vehicle occupants. A model of twomerging roads with stochastic traffic is developed. Algorithms for calculation of optimalexit sequences, accounting for time value heterogeneity, are characterized. Welfare costs oflimited planning horizon are assessed. Incentive compatible scheme of payment for priorityis calculated. The winners and losers of the proposed mechanism are described. Optimalityof traffic volume and composition under optimal exit regulation is established.