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Highway pricing and capacity choice in a road network under a build-operate-transfer scheme

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  • Yang, Hai
  • Meng, Qiang
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Abstract

It is often argued lately that the private sector should be allowed to build and operate roads in a transportation network at its own expense, in return it should receive the revenue from road toll charge within some years, and then these roads will be transferred to the government. This type of build-operate-transfer (B-O-T) projects is currently fashionable worldwide, especially for developing countries short of funds for road construction. One of the important issues concerning a highway B-O-T project is the selection of the capacity and toll charge of the new road and the evaluation of the relevant benefits to the private investor, the road users and the whole society under various market conditions. This paper deals with the selection and evaluation of a highway project under such a B-O-T scheme. For a given road network with elastic demand, mathematical models are proposed to investigate the feasibility of a candidate project and ascertain the optimal capacity and level of toll charge of the new highway. The response of road users to the new B-O-T project is explicitly considered. The characteristic of the problem is illustrated graphically with a numerical example.

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Bibliographic Info

Article provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.

Volume (Year): 34 (2000)
Issue (Month): 3 (April)
Pages: 207-222

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Handle: RePEc:eee:transa:v:34:y:2000:i:3:p:207-222

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  1. Verhoef, Erik & Nijkamp, Peter & Rietveld, Piet, 1996. "Second-Best Congestion Pricing: The Case of an Untolled Alternative," Journal of Urban Economics, Elsevier, vol. 40(3), pages 279-302, November.
  2. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
  3. David, AK & Fernando, PN, 1995. "The BOT option : Conflicts and compromises," Energy Policy, Elsevier, vol. 23(8), pages 669-675, August.
  4. Yang, Hai & Bell, Michael G. H., 1997. "Traffic restraint, road pricing and network equilibrium," Transportation Research Part B: Methodological, Elsevier, vol. 31(4), pages 303-314, August.
  5. Arnott Richard & Kraus Marvin, 1995. "Financing Capacity in the Bottleneck Model," Journal of Urban Economics, Elsevier, vol. 38(3), pages 272-290, November.
  6. Newbery, David M, 1989. "Cost Recovery from Optimally Designed Roads," Economica, London School of Economics and Political Science, vol. 56(222), pages 165-85, May.
  7. Yang, Hai, 1997. "Sensitivity analysis for the elastic-demand network equilibrium problem with applications," Transportation Research Part B: Methodological, Elsevier, vol. 31(1), pages 55-70, February.
  8. Keeler, Theodore E & Small, Kenneth A, 1977. "Optimal Peak-Load Pricing, Investment, and Service Levels on Urban Expressways," Journal of Political Economy, University of Chicago Press, vol. 85(1), pages 1-25, February.
  9. Nijkamp, Peter & Rienstra, Sytze A, 1995. "Private Sector Involvement in Financing and Operating Transport Infrastructure," The Annals of Regional Science, Springer, vol. 29(2), pages 221-35, May.
  10. Yan, Hai & Lam, William H. K., 1996. "Optimal road tolls under conditions of queueing and congestion," Transportation Research Part A: Policy and Practice, Elsevier, vol. 30(5), pages 319-332, September.
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