Economic-Driven Adaptive Traffic Signal Control

With the emerging connected-vehicle technologies and smart roads, the need for intelligent adaptive traffic signal controls is more than ever before. This paper proposes a novel Economic-driven Adaptive Traffic Signal Control (eATSC) model with a hyper control variable - interest rate defined in economics for traffic signal control at signalized intersections. The eATSC uses a continuous compounding function that captures both the total number of vehicles and the accumulated waiting time of each...