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Journal of Applied Sciences

Year: 2014 | Volume: 14 | Issue: 20 | Page No.: 2523-2529
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Authors

Meng Zhu

Hong Wang

Keywords

Research Article

Optimal Strategy of Public Transport Investment Allocation on Lanchester Competition Model

Meng Zhu and Hong Wang
It is a common aim of government, public transport companies and the public to upgrade public transport efficiency and facilitate the smooth integration of the public transit system. Within this, a key problem for the government and the companies involved, lies in how they can best use limited resources in order to construct a satisfactory public transportation system. This study considers the investment effectiveness function, using the Lanchester competition model to study different investment strategies of public transportation, with reference to Shanghai public transportation data from 2003-2011. In this context, ‘investment strategy’ refers to the optimal proportion of investment allocated to the rail and the bus system, respectively under the condition of dynamic market share and variable market scale. Following an investigation of this investment, this study then projects the investment allocation strategy that would be optimal in order to achieve the required public transportation aims from the government’s perspective.
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