The value of time (VOT) attribute is usually utilized to represent the trade-off between time and monetary expenses in transportation problems. A good representation of VOT is essential for evaluation of any road pricing scheme. Conventionally, in dynamic traffic assignment models, VOT is considered as either constant or finite discrete among travelers because of memory and computational limitations, which in turn could introduce bias in the results. This research explicitly models the individual bi-criteria dynamic user equilibrium (IBDUE) problem and presents a distinct simulation-based solution algorithm that enables individual-based traffic assignment within reasonable run time with a successful implementation of variable and continuously distributed VOT in a simulation-based dynamic traffic assignment package. Numerical analysis reveals that the constant and discrete VOT models tend to overestimate toll road usage compared with the continuous VOT model when the toll charge is low, and underestimate it when the toll charge is high, which reflects previous studies. In the meantime, an experiment on a real-world congestion pricing scheme demonstrates the capability of the proposed algorithm on evaluating flow-dependent pricing schemes.
Simulation‐based dynamic traffic assignment: Meta‐heuristic solution methods with parallel computing
