The unique relationship between the value capture mechanism (VCM) and transit-oriented development (TOD) stations and their peripheral areas, which progressively develops an expanded multimodal network, is well acknowledged in the transport industry. However, in regards to the location of TOD stations, insufficient attention has been paid to user travel behaviours and the operating mechanism of the multimodal network. To bridge this research gap, we develop a bi-level programming model for the location of TOD stations that analyses user travel behaviour in the multimodal network. The VCM and transit priority are the objectives of the upper level of this multi-objective optimization model. And the lower level of the model is a modified multimodal network equilibrium based on the Davidson function. Using a simple numerical simulation, this study proposes explanations for some traffic paradoxes from the perspective of a multimodal network equilibrium. We also illustrate competition and collaboration between rail and bus transport systems. Finally, this study uses an empirical case to describe the feasibility and applicability of the model. The results demonstrate that the location of TOD stations is not only one of the keys to the competitiveness of public transport but is also relevant to implementing its VCM.

价值捕获机制 (VCM) 和公交导向发展 (TOD) 车站及其周边地区之间的独特关系，逐步发展扩大的多式联运网络，在运输行业得到了广泛认可。然而，在TOD站点选址方面，对用户出行行为和多式联运网络运行机制的关注不够。为了弥合这一研究差距，我们开发了一个用于分析多模式网络中用户出行行为的 TOD 站点位置的双层编程模型。VCM和公交优先级是这个多目标优化模型的上层目标。模型的下层是基于戴维森函数的修正多峰网络均衡。使用简单的数值模拟，本研究从多模式网络均衡的角度对一些交通悖论提出了解释。我们还说明了铁路和公共汽车运输系统之间的竞争和协作。最后，本研究通过一个实证案例来说明模型的可行性和适用性。结果表明，TOD 站点的位置不仅是公共交通竞争力的关键之一，而且与实施其 VCM 也相关。