A Survey on Market-Inspired Intersection Control Methods for Connected Vehicles

Recent advances in wireless communication technology allow for the cooperative coordination of vehicles and infrastructures under vehicle-to-everything (V2X) communication protocols. V2X communication protocols are shaping a new reality for intersection control, allowing for individual driver preferences to be taken into account, such as heterogeneity in terms of value of time and willingness to pay to reduce individual delay. In this context, different economic instruments have been proposed for intersection control under connected vehicles, including various types of auctions, direct payments, and credit schemes. This study offers a comprehensive review on market-inspired control approaches under connected vehicles for both signalized and unsignalized intersections, focusing on auction-based and direct transaction schemes among drivers as incentive mechanisms for aligning user and system objectives. A structured way of analyzing the existing literature is introduced, underlining relevant methodological and practical issues. The key aspects of market-based control schemes are outlined, including priority allocation, types of agents employed, incentive compatibility, solution approaches, and validation. Emerging challenges for the implementation of such approaches and future research directions are then identified and discussed.