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.
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.