Analysis and Synthesis

Concepts

Modelling

We have commissioned a piece of work from 3 leading academics, Dr Sheri Markose, Director: Centre For Computational Finance and Economic Agents (CCFEA), Essex University; Professor Peter Allen, School of Management, Cranfield University, and Professor Phil Blythe, Director: Transport Operations Research Group (TORG), Newcastle University, to investigate how agent-based and transport models may be combined to allow us to explore Smart Market Protocols for Road Transport. This will take a current local transport model and use it to consider how a virtual smart- market could be created where people would bid for journey slots (a concept common in air-travel for example) on a main commuter network and how infrastructure might evolve to support this in the face of demographic and other urban changes. This model will investigate how such a system might respond to peak demand exceeding capacity and to other disruptive factors.

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