A General Equilibrium Model, a Two-direction Solution Method, and a Convergence Guarantee



A General Equilibrium Model, a Two-direction Solution Method, and a Convergence Guarantee

Authors

M Smith, York, UK

Description

Abstract

A variable demand equilibrium model is specified. This model has a reasonably general cost function and a reasonably general demand function. The model represents the generation and distribution of equilibrium travel flows between different OD pairs as a function of OD travel costs and equilibrium route choices as a function of the travel costs along the various routes. A two-direction method of solving the model is presented; in this method two search directions are followed instead of the usual one. It will be demonstrated that the two-direction method is guaranteed to converge under natural and rather weak conditions.

Publisher

Association for European Transport