Quantifying the benefit of responsive pricing and travel information in the stochastic congestion pricing problem
AbstractThis paper is concerned with roadway pricing amidst the uncertainty which characterizes long-term transportation planning. Uncertainty is considered both on the supply-side (e.g., the effect of incidents on habitual route choice behavior) and on the demand-side (e.g., due to prediction errors in demand forecasting). The framework developed in this paper also allows the benefits of real-time travel information to be compared directly against the benefits of responsive pricing, allowing planning agencies to identify the value of these policy options or contract terms in publicly-operated toll roads. Specifically, six scenarios reflect different combinations of policy options, and correspond to different solution methods for optimal tolls. Demonstrations are provided on both the Sioux falls and Anaheim networks. Results indicate that providing information to drivers implemented alongside responsive tolling may reduce expected total system travel time by over 9%, though more than 8% of the improvement is due to providing information, with the remaining 1% improvement gained from responsive tolling.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.
Volume (Year): 45 (2011)
Issue (Month): 3 (March)
Contact details of provider:
Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/547/description#description
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Yang, Hai & Huang, Hai-Jun, 1998. "Principle of marginal-cost pricing: how does it work in a general road network?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 32(1), pages 45-54, January.
- Robert B. Noland & John W. Polak, 2002. "Travel time variability: A review of theoretical and empirical issues," Transport Reviews, Taylor & Francis Journals, vol. 22(1), pages 39-54, January.
- Liu, Henry X. & Recker, Will & Chen, Anthony, 2004. "Uncovering the contribution of travel time reliability to dynamic route choice using real-time loop data," Transportation Research Part A: Policy and Practice, Elsevier, vol. 38(6), pages 435-453, July.
- Kobayashi, Kiyoshi & Do, Myungsik, 2005. "The informational impacts of congestion tolls upon route traffic demands," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(7-9), pages 651-670.
- Richard H. M. Emmerink & Erik T. Verhoef & Peter Nijkamp & Piet Rietveld, 1996. "Endogenising demand for information in road transport," The Annals of Regional Science, Springer, vol. 30(2), pages 201-222.
- Robin Lindsey & Andre de Palma, 1998. "Information and Usage of Congestible Facilities Under Different Pricing Regimes," Canadian Journal of Economics, Canadian Economics Association, vol. 31(3), pages 666-692, August.
- Kenneth A. Small & Clifford Winston & Jia Yan, 2005.
"Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability,"
Econometric Society, vol. 73(4), pages 1367-1382, 07.
- Small, Kenneth A. & Winston, Clifford & Yan, Jia, 2005. "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability," Working paper 179, Regulation2point0.
- Chen, Anthony & Subprasom, Kitti, 2007. "Analysis of regulation and policy of private toll roads in a build-operate-transfer scheme under demand uncertainty," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(6), pages 537-558, July.
- Verhoef, Erik T. & Emmerink, Richard H. M. & Nijkamp, Peter & Rietveld, Piet, 1996. "Information provision, flat and fine congestion tolling and the efficiency of road usage," Regional Science and Urban Economics, Elsevier, vol. 26(5), pages 505-529, August.
- 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.
- Liu, Henry X. & He, Xiaozheng & Recker, Will, 2007. "Estimation of the time-dependency of values of travel time and its reliability from loop detector data," Transportation Research Part B: Methodological, Elsevier, vol. 41(4), pages 448-461, May.
- Clark, Stephen & Watling, David, 2005. "Modelling network travel time reliability under stochastic demand," Transportation Research Part B: Methodological, Elsevier, vol. 39(2), pages 119-140, February.
- de Palma, André & Picard, Nathalie, 2005. "Route choice decision under travel time uncertainty," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(4), pages 295-324, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If references are entirely missing, you can add them using this form.