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Financing Capacity in the Bottleneck Model

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  • Arnott Richard
  • Kraus Marvin

Abstract

It is well known that, for a congestible facility with a constant long-run average cost, the revenue from the unconstrained optimal toll (set so that each individual faces marginal (social) cost of a use) covers the cost of optimal capacity. This paper investigates under what circumstances the first-best pricing and investment rules apply when time variation of the toll is constrained, and when users differ in unobservable characteristics so that the same toll must be applied to heterogeneous users. Both the bottleneck model and the traditional flow congestion model are considered.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Urban Economics.

Volume (Year): 38 (1995)
Issue (Month): 3 (November)
Pages: 272-290

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Handle: RePEc:eee:juecon:v:38:y:1995:i:3:p:272-290

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Web page: http://www.elsevier.com/locate/inca/622905

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Cited by:
  1. Richard Arnott & Marvin Kraus, 1995. "Self-Financing of Congestible Facilities in a Growing Economy," Boston College Working Papers in Economics 304., Boston College Department of Economics.
  2. Yang, Hai & Meng, Qiang, 2000. "Highway pricing and capacity choice in a road network under a build-operate-transfer scheme," Transportation Research Part A: Policy and Practice, Elsevier, vol. 34(3), pages 207-222, April.
  3. Lindsey, Robin, 2009. "Cost recovery from congestion tolls with random capacity and demand," Journal of Urban Economics, Elsevier, vol. 66(1), pages 16-24, July.
  4. Vincent van den Berg & Erik T. Verhoef, 2011. "Congesting Pricing in a Road and Rail Network with Heterogeneous Values of Time and Schedule Delay," Tinbergen Institute Discussion Papers 11-059/3, Tinbergen Institute, revised 24 May 2012.
  5. Tan, Zhijia, 2012. "Capacity and toll choice of an add-on toll road under various ownership regimes," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(6), pages 1080-1092.
  6. Parry, Ian W.H. & Walls, Margaret & Harrington, Winston, 2007. "Automobile Externalities and Policies," Discussion Papers dp-06-26, Resources For the Future.
  7. Bichsel, Robert, 2001. "Should Road Users Pay the Full Cost of Road Provision?," Journal of Urban Economics, Elsevier, vol. 50(2), pages 367-383, September.
  8. Adriaan Hendrik van der Weijde & Erik T. Verhoef & Vincent van den Berg, 2012. "Competition in Multi-Modal Transport Networks: A Dynamic Approach," Tinbergen Institute Discussion Papers 12-116/VIII, Tinbergen Institute.
  9. Arnott, Richard & Kraus, Marvin, 1998. "When are anonymous congestion charges consistent with marginal cost pricing?," Journal of Public Economics, Elsevier, vol. 67(1), pages 45-64, January.
  10. Takeshi Nagae & Takashi Akamatsu, 2006. "Dynamic Revenue Management of a Toll Road Project under Transportation Demand Uncertainty," Networks and Spatial Economics, Springer, vol. 6(3), pages 345-357, September.
  11. Jeffrey K. MacKie-Mason & Hal R. Varian, 1994. "Pricing the Internet," Computational Economics 9401002, EconWPA.
  12. van den Berg, Vincent A.C., 2014. "Coarse tolling with heterogeneous preferences," Transportation Research Part B: Methodological, Elsevier, vol. 64(C), pages 1-23.
  13. Xiao, Feng & Qian, Zhen (Sean) & Zhang, H. Michael, 2013. "Managing bottleneck congestion with tradable credits," Transportation Research Part B: Methodological, Elsevier, vol. 56(C), pages 1-14.
  14. Yang, Hai & Meng, Qiang, 2002. "A note on "highway pricing and capacity choice in a road network under a build-operate-transfer scheme"," Transportation Research Part A: Policy and Practice, Elsevier, vol. 36(7), pages 659-663, August.
  15. Vincent A.C. van den Berg, 2013. "Coarse Tolling with Heterogeneous Preferences," Tinbergen Institute Discussion Papers 13-120/VIII, Tinbergen Institute.

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