Our first speaker will be Lewis Lehe
Hypodemand: a static traffic model with a backward-bending demand curve
Static models of traffic economics generally feature a downward-sloping “flow-demanded” curve: the lower the travel time, the more people want to drive. This talk will show that pooled ridehailing services---such as UberPool---can lead to “backward-bending” flow-demanded curves for downtown traffic, whereby the demanded vehicle flow falls as travel times fall. Consequently, urban zones can exhibit multiple, stable traffic equilibria and hysteresis even in so-called “light traffic,” and temporarily enacting a toll can permanently improve traffic.
Bio:
Since 2018, Lewis Lehe has been an assistant professor in the transportation systems group of the Department of Civil and Environmental Engineering at University of Illinois Urbana-Champaign. His research focuses on the economics and theory of downtown traffic. He received his PhD in Civil Engineering under Carlos Daganzo at UC Berkeley in 2016.