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Impact of Value of Time (VOT) on toll roads

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  • M. Rouhani, Omid

Abstract

This paper provides a brief overview of the concept of value of time (VOT), in the context of toll road schemes. VOT analysis determines the tradeoffs travelers make between time and tolls. The analysis is very important when considering the choice between tolled and un-tolled alternatives. Using travel demand model of Fresno, CA, I provide a sensitivity analysis showing how the outcomes of tolling schemes can change with varying VOT levels.

Suggested Citation

  • M. Rouhani, Omid, 2015. "Impact of Value of Time (VOT) on toll roads," MPRA Paper 65087, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:65087
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    File URL: https://mpra.ub.uni-muenchen.de/65087/1/MPRA_paper_65087.pdf
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    References listed on IDEAS

    as
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    5. Small, Kenneth A., 2001. "The Value of Pricing," University of California Transportation Center, Working Papers qt0rm449sx, University of California Transportation Center.
    6. Poorzahedy, Hossain & Rouhani, Omid M., 2007. "Hybrid meta-heuristic algorithms for solving network design problem," European Journal of Operational Research, Elsevier, vol. 182(2), pages 578-596, October.
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    10. M. Rouhani, Omid, 2014. "Road pricing: An overview," MPRA Paper 59662, University Library of Munich, Germany.
    11. Rouhani, Omid M. & Oliver Gao, H. & Richard Geddes, R., 2015. "Policy lessons for regulating public–private partnership tolling schemes in urban environments," Transport Policy, Elsevier, vol. 41(C), pages 68-79.
    12. Jean-Etienne de Bettignies & Thomas W. Ross, 2004. "The Economics of Public-Private Partnerships," Canadian Public Policy, University of Toronto Press, vol. 30(2), pages 135-154, June.
    13. Rouhani, Omid M. & Oliver Gao, H., 2014. "An advanced traveler general information system for Fresno, California," Transportation Research Part A: Policy and Practice, Elsevier, vol. 67(C), pages 254-267.
    14. Hai Yang, 1999. "System Optimum, Stochastic User Equilibrium, and Optimal Link Tolls," Transportation Science, INFORMS, vol. 33(4), pages 354-360, November.
    15. Rouhani, Omid M. & Niemeier, Debbie & Knittel, Christopher R. & Madani, Kaveh, 2013. "Integrated modeling framework for leasing urban roads: A case study of Fresno, California," Transportation Research Part B: Methodological, Elsevier, vol. 48(C), pages 17-30.
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    17. Ali Mirchi & Saeed Hadian & Kaveh Madani & Omid M. Rouhani & Azadeh M. Rouhani, 2012. "World Energy Balance Outlook and OPEC Production Capacity: Implications for Global Oil Security," Energies, MDPI, vol. 5(8), pages 1-26, July.
    18. Hess, Stephane & Bierlaire, Michel & Polak, John W., 2005. "Estimation of value of travel-time savings using mixed logit models," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(2-3), pages 221-236.
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    Citations

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    Cited by:

    1. M. Rouhani, Omid, 2015. "Revenue Risk Mitigation Options for Toll Roads," MPRA Paper 67662, University Library of Munich, Germany.
    2. M Rouhani, Omid, 2016. "Social welfare analysis of HOV to HOT conversion," MPRA Paper 75816, University Library of Munich, Germany.

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    More about this item

    Keywords

    Value of time; Road pricing; Congestion pricing; Optimal toll; Profits; System-wide costs.;
    All these keywords.

    JEL classification:

    • H4 - Public Economics - - Publicly Provided Goods
    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • 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

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