Cordon pricing consistent with the physics of overcrowding
AbstractThis paper describes the modeling of recurring congestion in a network. It is shown that the standard economic models of marginal cost cannot describe precisely traffic congestion in networks during time-dependent conditions. Following a macroscopic traffic approach, we describe the equilibrium solution for a congested network in the no-toll case. A dynamic model of cordon-based congestion pricing (such as for the morning commute) for networks is developed consistent with the physics of traffic.Ê The paper combines VickreyÕs theory with a macroscopic traffic model, which is readily observable with existing monitoring technologies. The paper also examines some policy implications of the cordon-based pricing to treat equity and reliability issues, i.e. in what mobility level a city should choose to operate. An application of the model in a downtown area shows that these schemes can improve mobility and relieve congestion in cities.
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Bibliographic InfoPaper provided by University of Minnesota: Nexus Research Group in its series Working Papers with number 000038.
Date of creation: 2008
Date of revision:
Publication status: Published in working paper
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Postal: Dept. of Civil Engineering, 500 Pillsbury Drive SE, Minneapolis, MN 55455
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Web page: http://nexus.umn.edu
More information through EDIRC
Cordon Pricing; Congestion Pricing; Road Pricing; Value Pricing; Social Equity;
Find related papers by JEL classification:
- R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion
- R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-08-14 (All new papers)
- NEP-GEO-2008-08-14 (Economic Geography)
- NEP-URE-2008-08-14 (Urban & Real Estate Economics)
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.:
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