A Pricing Model Based on Time Utility in Passenger Dedicated Railway

The paper is going to improve the pricing method from the point of view of how to get the maximum benefit in passenger-dedicated railway. The main reason is that differences in the consumers' income lead to differences in endurance to the price of passenger transportation service. Thus the authors take into account the pricing methods from a new point of view of time utility. As the loss of time utility is introduced to balance the differences of consumers, the authors set up the pricing model based on time utility in passenger-dedicated railway.