IDEAS home Printed from https://ideas.repec.org/a/eee/retrec/v44y2014icp12-20.html
   My bibliography  Save this article

The feasibility of modernizing the Interstate highway system via toll finance

Author

Listed:
  • Poole, Robert W.

Abstract

This paper addresses two related problems: how to pay for reconstruction and modernization of the aging Interstate highway system and how to deal with political opposition to increased use of direct charging for highway use. It proposes introducing tolling only on individual corridors as they are reconstructed and (if needed) widened. First, the cost of reconstructing all existing Interstate lane-miles is estimated, using FHWA HERS unit cost data. The cost of adding lanes, where indicated by projected growth in light and heavy vehicle travel, is estimated using HERS unit costs. The revenue that could be generated by an inflation-adjusted per-mile tolling system (to be implemented via all-electronic tolling) on this rebuilt and modernized system is estimated. Finally, the net present value of toll revenues is compared with the net present value of modernization cost as an initial estimate of financial feasibility. The analysis is carried out for each of the 50 states and the District of Columbia.

Suggested Citation

  • Poole, Robert W., 2014. "The feasibility of modernizing the Interstate highway system via toll finance," Research in Transportation Economics, Elsevier, vol. 44(C), pages 12-20.
    • Handle: RePEc:eee:retrec:v:44:y:2014:i:c:p:12-20
    DOI: 10.1016/j.retrec.2014.04.007
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0739885914000080
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.retrec.2014.04.007?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Flyvbjerg,Bent & Bruzelius,Nils & Rothengatter,Werner, 2003. "Megaprojects and Risk," Cambridge Books, Cambridge University Press, number 9780521009461.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ahsan Nawaz & Xing Su & Qaiser Mohi Ud Din & Muhammad Irslan Khalid & Muhammad Bilal & Syyed Adnan Raheel Shah, 2020. "Identification of the H&S (Health and Safety Factors) Involved in Infrastructure Projects in Developing Countries-A Sequential Mixed Method Approach of OLMT-Project," IJERPH, MDPI, vol. 17(2), pages 1-18, January.
    2. Cantarelli, C.C. & Flyvbjerg, B. & Buhl, S.L., 2012. "Geographical variation in project cost performance: the Netherlands versus worldwide," Journal of Transport Geography, Elsevier, vol. 24(C), pages 324-331.
    3. Zhao, Na, 2019. "Managing interactive collaborative mega project supply chains under infectious risks," International Journal of Production Economics, Elsevier, vol. 218(C), pages 275-286.
    4. Leheis, Stéphanie, 2012. "High-speed train planning in France: Lessons from the Mediterranean TGV-line," Transport Policy, Elsevier, vol. 21(C), pages 37-44.
    5. Morgenroth, Edgar & FitzGerald, John & FitzGerald, John, 2006. "Summary and Conclusions," Book Chapters, in: Morgenroth, Edgar (ed.),Ex-Ante Evaluation of the Investment Priorities for the National Development Plan 2007-2013, chapter 24, pages 317-333, Economic and Social Research Institute (ESRI).
      • Baker, Terence J. & FitzGerald, John & Honohan, Patrick & FitzGerald, John & Honohan, Patrick, 1996. "Summary and Conclusions," Book Chapters, in: Baker, Terence J. (ed.),Economic Implications for Ireland of EMU, chapter 12, pages 339-352, Economic and Social Research Institute (ESRI).
    6. Litsiou, Konstantia & Polychronakis, Yiannis & Karami, Azhdar & Nikolopoulos, Konstantinos, 2022. "Relative performance of judgmental methods for forecasting the success of megaprojects," International Journal of Forecasting, Elsevier, vol. 38(3), pages 1185-1196.
    7. Proost, S. & Van der Loo, S. & de Palma, Andre & Lindsey, Robin, 2005. "A cost-benefit analysis of tunnel investment and tolling alternatives in Antwerp," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 31, pages 83-100.
    8. Fildes, Robert & Goodwin, Paul & Lawrence, Michael & Nikolopoulos, Konstantinos, 2009. "Effective forecasting and judgmental adjustments: an empirical evaluation and strategies for improvement in supply-chain planning," International Journal of Forecasting, Elsevier, vol. 25(1), pages 3-23.
    9. Morteza Davari & Erik Demeulemeester, 2019. "The proactive and reactive resource-constrained project scheduling problem," Journal of Scheduling, Springer, vol. 22(2), pages 211-237, April.
    10. Konstantina Gkritza & Kumares Sinha & Samuel Labi & Fred Mannering, 2008. "Influence of highway construction projects on economic development: an empirical assessment," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 42(3), pages 545-563, September.
    11. Brinkman, Anthony P., 2003. "The Ethical Challenges and Professional Responses of Travel Demand Forecasters," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt9c3330tt, Institute of Transportation Studies, UC Berkeley.
    12. Hugh Goldsmith, 2014. "The Long-Run Evolution of Infrastructure Services," CESifo Working Paper Series 5073, CESifo.
    13. Boubaker, K., 2012. "Renewable energy in upper North Africa: Present versus 2025-horizon perspectives optimization using a Data Envelopment Analysis (DEA) framework," Renewable Energy, Elsevier, vol. 43(C), pages 364-369.
    14. M.R. van den Berg & M. de Nooij, 2013. "The bidding paradox: why economists, consultants and politicians disagree on the economic effects of mega sports events but might agree on their attractiveness," Working Papers 13-08, Utrecht School of Economics.
    15. Muhammad Zeeshan Fareed & Qin Su, 2022. "Project Governance and Project Performance: The Moderating Role of Top Management Support," Sustainability, MDPI, vol. 14(5), pages 1-13, February.
    16. Sukulpat Khumpaisal & Katkate Bunnag & Chonticha Tippratum, 2018. "Political Risks and Impacts to Thailand Real Estate DevelopmentIndustry," International Journal of Business and Economic Affairs (IJBEA), Sana N. Maswadeh, vol. 3(4), pages 146-152.
    17. Rob Imrie & Emma Street, 2009. "Risk, Regulation and the Practices of Architects," Urban Studies, Urban Studies Journal Limited, vol. 46(12), pages 2555-2576, November.
    18. Pappalepore, Ilaria & Duignan, Michael B., 2016. "The London 2012 cultural programme: A consideration of Olympic impacts and legacies for small creative organisations in east London," Tourism Management, Elsevier, vol. 54(C), pages 344-355.
    19. Blanc-Brude, Frederic & Goldsmith, Hugh & Valila, Timo, 2007. "Ex Ante Construction Costs In The European Road Sector: A Comparison Of Public-Private Partnerships And Traditional Public Procurement," Economic and Financial Reports 2006/1, European Investment Bank, Economics Department.
    20. Cantarelli, C.C. & Molin, E.J.E. & van Wee, B. & Flyvbjerg, B., 2012. "Characteristics of cost overruns for Dutch transport infrastructure projects and the importance of the decision to build and project phases," Transport Policy, Elsevier, vol. 22(C), pages 49-56.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:retrec:v:44:y:2014:i:c:p:12-20. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/620614/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.