Road pricing with optimal mass transit
This paper considers the second-best policy problem that arises when auto travel is priced below its marginal cost and there is a substitute mass transit mode. Using analytical methods, a global comparison is made between the second-best levels of transit service and the fare and their first-best levels. The fact that the results are global permits an application to road pricing not possible with the local results of Kraus (2003).
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- Small, Kenneth A. & Yan, Jia, 2001.
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- Small, Kenneth A. & Yan, Jia, 2001. "The Value of "Value Pricing" of Roads: Second-Best Pricing and Product Differentiation," University of California Transportation Center, Working Papers qt9569k1sz, University of California Transportation Center.
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060723, University of California-Irvine, Department of Economics.
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- Liu, Louie Nan & McDonald, John F., 1998. "Efficient Congestion Tolls in the Presence of Unpriced Congestion: A Peak and Off-Peak Simulation Model," Journal of Urban Economics, Elsevier, vol. 44(3), pages 352-366, November.
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