Principle of marginal-cost pricing: how does it work in a general road network?
Most previous theoretical arguments on congestion pricing are based on the fundamental economic principle of marginal-cost pricing, and are entirely concerned with abstract travel demand-supply models. There exists in the literature considerable confusion on analysis of congestion which needs to be clarified. There are also many interesting, and important issues to be explored when detailed network modeling is involved. This paper makes a theoretical investigation into how this classical economic principle would work in a general congested road network. Some new explanations of the marginal-cost pricing and its implications under different equilibrium conditions are presented.
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Volume (Year): 32 (1998)
Issue (Month): 1 (January)
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References listed on IDEAS
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- Small, Kenneth A., 1992.
"Using the Revenues from Congestion Pricing,"
University of California Transportation Center, Working Papers
qt32p9m3mm, University of California Transportation Center.
- Small, Kenneth A., 2001. "Using the Revenues from Congestion Pricing," University of California Transportation Center, Working Papers qt7170x9b0, University of California Transportation Center.
- Mun, Se-il, 1994. "Traffic jams and the congestion toll," Transportation Research Part B: Methodological, Elsevier, vol. 28(5), pages 365-375, October.
- Hau, Timothy D., 1992. "Economic fundamentals of road pricing : a diagrammatic analysis," Policy Research Working Paper Series 1070, The World Bank.
- Yang, Hai & Hai-Jun, Huang, 1997. "Analysis of the time-varying pricing of a bottleneck with elastic demand using optimal control theory," Transportation Research Part B: Methodological, Elsevier, vol. 31(6), pages 425-440, November.
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