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Road Pricing with Complication

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  • Mogens Fosgerau
  • Kurt van Dender

Abstract

Standard textbook analyses of road pricing tend to assume that users are homogenous, that there is no travel time risk, and to have a view of congestion as static. The simple analysis also ignores that real pricing schemes are only rough approximations to ideal systems and that the general economic context may also have implications for optimal pricing. This paper reviews these issues and discusses how taking them into account may affect estimates of optimal tolls.

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Bibliographic Info

Paper provided by OECD Publishing in its series OECD/ITF Joint Transport Research Centre Discussion Papers with number 2010/2.

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Date of creation: Jan 2010
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Handle: RePEc:oec:itfaaa:2010/2-en

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References

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  1. Edward Calthrop & Bruno De Borger & Stef Proost, 2008. "Cost-benefit analysis of transport investments in distorted economies," Center for Economic Studies - Discussion papers ces0818, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
  2. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1993. "A Structural Model of Peak-Period Congestion: A Traffic Bottleneck with Elastic Demand," American Economic Review, American Economic Association, vol. 83(1), pages 161-79, March.
  3. Arnott, Richard & Kraus, Marvin, 1998. "When are anonymous congestion charges consistent with marginal cost pricing?," Journal of Public Economics, Elsevier, vol. 67(1), pages 45-64, January.
  4. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
  5. Mogens Fosgerau, 2004. "Investigating the distribution of the value of travel time savings," Urban/Regional 0411006, EconWPA.
  6. Parry, Ian W.H. & Small, Kenneth, 2007. "Should Urban Transit Subsidies Be Reduced?," Discussion Papers dp-07-38, Resources For the Future.
  7. Small, Kenneth A. & Winston, Clifford & Yan, Jia, 2005. "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability," Working paper 179, Regulation2point0.
  8. Ida Kristoffersson & Leonid Engelson, 2009. "A Dynamic Transportation Model for the Stockholm Area: Implementation Issues Regarding Departure Time Choice and OD-pair Reduction," Networks and Spatial Economics, Springer, vol. 9(4), pages 551-573, December.
  9. Ninette Pilegaard & Mogens Fosgerau, 2008. "Cost Benefit Analysis of a Transport Improvement in the Case of Search Unemployment," Journal of Transport Economics and Policy, London School of Economics and University of Bath, vol. 42(1), pages 23-42, January.
  10. Small, K.A. & Yan, J., 1999. "The Value of "Value Princing" of Roads: Second-Best Pricing and Product Differentiation," Papers 99-00-02, California Irvine - School of Social Sciences.
  11. Kurt Van Dender, 2003. "Transport Taxes with Multiple Trip Purposes," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(2), pages 295-310, 06.
  12. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1999. "Information and time-of-usage decisions in the bottleneck model with stochastic capacity and demand," European Economic Review, Elsevier, vol. 43(3), pages 525-548, March.
  13. Verhoef, Erik T., 2002. "Second-best congestion pricing in general networks. Heuristic algorithms for finding second-best optimal toll levels and toll points," Transportation Research Part B: Methodological, Elsevier, vol. 36(8), pages 707-729, September.
  14. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, Octomber.
  15. Claus Thustrup Kreiner & Nicolaj Verdelin, 2012. "Optimal Provision of Public Goods: A Synthesis," Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(2), pages 384-408, 06.
  16. De Borger, Bruno & Fosgerau, Mogens, 2008. "The trade-off between money and travel time: A test of the theory of reference-dependent preferences," Journal of Urban Economics, Elsevier, vol. 64(1), pages 101-115, July.
  17. Fosgerau, Mogens & Engelson, Leonid, 2010. "The value of travel time variance," MPRA Paper 42272, University Library of Munich, Germany.
  18. Mogens Fosgerau & Kurt Van Dender, 2013. "Road pricing with complications," Transportation, Springer, vol. 40(3), pages 479-503, May.
  19. Sumalee, Agachai & May, Tony & Shepherd, Simon, 2005. "Comparison of judgmental and optimal road pricing cordons," Transport Policy, Elsevier, vol. 12(5), pages 384-390, September.
  20. Fosgerau, Mogens, 2008. "On the relation between the mean and variance of delay in dynamic queues with random capacity and demand," MPRA Paper 11994, University Library of Munich, Germany.
  21. Richard Arnott, 1998. "William Vickrey: Contributions to Public Policy," International Tax and Public Finance, Springer, vol. 5(1), pages 93-113, February.
  22. Parry, Ian & Small, Kenneth, 2002. "Does Britain or the United States Have the Right Gasoline Tax?," Discussion Papers dp-02-12-, Resources For the Future.
  23. Zhu, Xueqin & Van Ommeren, Jos & Rietveld, Piet, 2009. "Indirect benefits of infrastructure improvement in the case of an imperfect labor market," Transportation Research Part B: Methodological, Elsevier, vol. 43(1), pages 57-72, January.
  24. Fosgerau, Mogens & Karlström, Anders, 2007. "The value of reliability," MPRA Paper 5733, University Library of Munich, Germany.
  25. Raux, Charles, 2005. "Comments on 'The London congestion charge: a tentative economic appraisal' ()," Transport Policy, Elsevier, vol. 12(4), pages 368-371, July.
  26. Fosgerau, Mogens & Pilegaard, Ninette, 2007. "Cost-benefit rules for transport projects when labor supply is endogenous and taxes are distortionary," MPRA Paper 3902, University Library of Munich, Germany.
  27. Small, Kenneth A, 1982. "The Scheduling of Consumer Activities: Work Trips," American Economic Review, American Economic Association, vol. 72(3), pages 467-79, June.
  28. Kenneth A. Small & Kurt van Dender, 2007. "Long Run Trends in Transport Demand, Fuel Price Elasticities and Implications of the Oil Outlook for Transport Policy," OECD/ITF Joint Transport Research Centre Discussion Papers 2007/16, OECD Publishing.
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Citations

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Cited by:
  1. Kristoffersson, Ida, 2013. "Impacts of time-varying cordon pricing: Validation and application of mesoscopic model for Stockholm," Transport Policy, Elsevier, vol. 28(C), pages 51-60.
  2. Mogens Fosgerau & Kurt Van Dender, 2013. "Road pricing with complications," Transportation, Springer, vol. 40(3), pages 479-503, May.
  3. Ida Kristoffersson & Leonid Engelson, 2011. "Modifications of the Stockholm congestion pricing scheme and effects on different user groups," ERSA conference papers ersa10p1455, European Regional Science Association.
  4. Jonas Westin, 2011. "Labor Market Effects of Road Pricing in a Population with Continuously Distributed Value of Time," ERSA conference papers ersa10p1458, European Regional Science Association.

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