2022 Thayer Investiture

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Optimizing Transportation Scheduling for a Win, Win, Win Situation for All

May 21, 2021   |   INFORMS

"Our study points to two very exciting findings," said Professor Vikrant Vaze as a guest on the podcast Resoundingly Human. "First of all, we found that a more profitable solution for transportation service providers does not have to be a worse system for passengers. In fact, our solutions result in a win, win, win kind of situation. Using our models and algorithms we can adjust schedules to reduce costs for the city as a whole while also reducing the total cost for passengers and service providers simultaneously."

"It's been interesting to see how these traditional transportation modes like buses and trains have been adapting to relatively new on-demand options. Since buses and trains are often run by transit authorities of individual cities, it really depends on what city we are talking about, because there are a lot of divergent strategies out there."

..."Ultimately, our insights suggest that public transit and ride-hailing can co-exist and provide complementary services in a way that enhances mobility across the urban ecosystem. As we have shown, there is clearly a tremendous potential there."

..."I think a valuable next step toward putting our insights into action would involve direct partnerships between researchers and transit agencies. The wealth of data and practical insights available to transit agencies and cities will be critical to ensure that this type of research can be translated into practice, leading to more efficient, sustainable and equitable cities. I am hopeful that this study can serve as motivation for enabling more partnerships between operations researchers and city planning authorities."

Link to source:

https://pubsonline.informs.org/do/10.1287/orms.2021.03.21p

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