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Second-best congestion pricing in general static transportation networks with elastic demands

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  • Verhoef, Erik T.

Abstract

This paper studies the second-best problem where not all links of acongested transportation network can be tolled. The second-best taxrule for this problem is derived for general static networks, so thatthe solution presented is valid for any graph of the network, and forany set of tolling points available on that network. It isdemonstrated that the solution obtained indeed generalizes a numberof known second-best tax rules presented earlier in the literature,for specific cases of the general problem discussed in the presentpaper. Finally, it is demonstrated that, for instance by using theconcept of 'virtual links', the analysis can be applied rather easilyalso to a broader class of second-best problems in static networks.

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Article provided by Elsevier in its journal Regional Science and Urban Economics.

Volume (Year): 32 (2002)
Issue (Month): 3 (May)
Pages: 281-310

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Handle: RePEc:eee:regeco:v:32:y:2002:i:3:p:281-310
Contact details of provider: Web page: http://www.elsevier.com/locate/regec

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  1. Erik Verhoef, 1997. "Time, Speeds, Flows and Densities in Static Models of Road Traffic Congestion and Congestion Pricing," Tinbergen Institute Discussion Papers 97-070/3, Tinbergen Institute.
  2. Sullivan, Arthur M., 1983. "Second-best policies for congestion externalities," Journal of Urban Economics, Elsevier, vol. 14(1), pages 105-123, July.
  3. Glazer, Amihai & Niskanen, Esko, 2001. "Parking fees and congestion," University of California Transportation Center, Working Papers qt9h51t02k, University of California Transportation Center.
  4. Small, Kenneth A. & Gomez-Ilbanez, Jose A., 1998. "Road Pricing for Congestion Management: The Transition from Theory to Policy," University of California Transportation Center, Working Papers qt8kk909p1, University of California Transportation Center.
  5. A. de Palma & Y. Nesterov, 1997. "Optimization formulations and static equilibrium in congested transportation networks," THEMA Working Papers 97-17, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  6. Braid, Ralph M., 1996. "Peak-Load Pricing of a Transportation Route with an Unpriced Substitute," Journal of Urban Economics, Elsevier, vol. 40(2), pages 179-197, September.
  7. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1990. "Economics of a bottleneck," Journal of Urban Economics, Elsevier, vol. 27(1), pages 111-130, January.
  8. Verhoef, Erik & Nijkamp, Peter & Rietveld, Piet, 1996. "Second-Best Congestion Pricing: The Case of an Untolled Alternative," Journal of Urban Economics, Elsevier, vol. 40(3), pages 279-302, November.
  9. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
  10. May, A. D. & Milne, D. S., 2000. "Effects of alternative road pricing systems on network performance," Transportation Research Part A: Policy and Practice, Elsevier, vol. 34(6), pages 407-436, August.
  11. d'Ouville, Edmond L. & McDonald, John F., 1990. "Optimal road capacity with a suboptimal congestion toll," Journal of Urban Economics, Elsevier, vol. 28(1), pages 34-49, July.
  12. Yan, Hai & Lam, William H. K., 1996. "Optimal road tolls under conditions of queueing and congestion," Transportation Research Part A: Policy and Practice, Elsevier, vol. 30(5), pages 319-332, September.
  13. Verhoef, Erik T. & Emmerink, Richard H. M. & Nijkamp, Peter & Rietveld, Piet, 1996. "Information provision, flat and fine congestion tolling and the efficiency of road usage," Regional Science and Urban Economics, Elsevier, vol. 26(5), pages 505-529, August.
  14. Arnott, Richard J., 1979. "Unpriced transport congestion," Journal of Economic Theory, Elsevier, vol. 21(2), pages 294-316, October.
  15. Erik T. Verhoef, 2000. "Second-Best Congestion Pricing in General Networks - Algorithms for Finding Second-Best Optimal Toll Levels and Toll Points," Tinbergen Institute Discussion Papers 00-084/3, Tinbergen Institute.
  16. Braid, Ralph M., 1989. "Uniform versus peak-load pricing of a bottleneck with elastic demand," Journal of Urban Economics, Elsevier, vol. 26(3), pages 320-327, November.
  17. Liu, Louie Nan & McDonald, John F., 1999. "Economic efficiency of second-best congestion pricing schemes in urban highway systems," Transportation Research Part B: Methodological, Elsevier, vol. 33(3), pages 157-188, April.
  18. Wilson, John D., 1983. "Optimal road capacity in the presence of unpriced congestion," Journal of Urban Economics, Elsevier, vol. 13(3), pages 337-357, May.
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