Road Pricing with Autonomous Links
AbstractThis research examines road pricing on a network of autonomous highway links. By autonomous it is meant that the links are competitive and independent, with the objective of maximizing their own profits without regard for either social welfare or the profits of other links. The principal goal of the research is to understand the implications of adoption of road pricing and privatization on social welfare and the distribution of gains and losses. The specific pricing strategies of autonomous links are evaluated first under the condition of competition for simple networks. An agent-based modeling system is developed which integrates an equilibrated travel demand, route choice, and travel time model with a repeated game of autonomous links setting prices to maximize profit. The levels of profit, welfare consequences, and potential cooperative arrangements undertaken by autonomous links will be evaluated. By studying how such an economic system may behave under various circumstances, the effectiveness of road pricing and road privatization as public policy can be assessed.
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Bibliographic InfoPaper provided by University of Minnesota: Nexus Research Group in its series Working Papers with number 200506.
Date of creation: 2005
Date of revision:
Publication status: Published in Journal of the Transportation Research Board #1932 pp. 147-155.
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More information through EDIRC
Network dynamics; road pricing; autonomous links; privatization; agent-based transportation model;
Find related papers by JEL classification:
- R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
- R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
- R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
- D10 - Microeconomics - - Household Behavior - - - General
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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