Traffic Management Based on Negotiations between Vehicles - A Feasibility Demonstration Using Agents

City governments currently make significant efforts to design traffic-control schemes. While existing solutions try to optimize the load of traffic resources, they do not consider one important aspect: Different drivers value short waiting times differently. For instance, the valuation of a truck driver who is part of a just-in-time production chain tends to be higher than the one of a family on an excursion for pleasure. Traffic-control schemes that give preference to drivers with higher valuations will increase the total utility of all drivers. In this paper we propose a new mechanism for traffic control at intersections. It is called Time-Slot Exchange and relies on bilateral negotiations. It tries to optimize the use of traffic resources in a valuation-aware fashion. The mechanism relies on agent-based driver-assistance systems with communication features which negotiate the right to cross an intersection at a certain time. Using simulations, we show that our new mechanism outperforms existing ones regarding average valuation-weighted waiting time.