Quantifying the benefit of responsive pricing and travel information in the stochastic congestion pricing problem
This paper is concerned with roadway pricing amidst the uncertainty which characterizes long-term transportation planning. Uncertainty is considered both on the supply-side (e.g., the effect of incidents on habitual route choice behavior) and on the demand-side (e.g., due to prediction errors in demand forecasting). The framework developed in this paper also allows the benefits of real-time travel information to be compared directly against the benefits of responsive pricing, allowing planning agencies to identify the value of these policy options or contract terms in publicly-operated toll roads. Specifically, six scenarios reflect different combinations of policy options, and correspond to different solution methods for optimal tolls. Demonstrations are provided on both the Sioux falls and Anaheim networks. Results indicate that providing information to drivers implemented alongside responsive tolling may reduce expected total system travel time by over 9%, though more than 8% of the improvement is due to providing information, with the remaining 1% improvement gained from responsive tolling.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 45 (2011)
Issue (Month): 3 (March)
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/547/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Yang, Hai & Huang, Hai-Jun, 1998. "Principle of marginal-cost pricing: how does it work in a general road network?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 32(1), pages 45-54, January.
- Liu, Henry X. & Recker, Will & Chen, Anthony, 2004. "Uncovering the contribution of travel time reliability to dynamic route choice using real-time loop data," Transportation Research Part A: Policy and Practice, Elsevier, vol. 38(6), pages 435-453, July.
- Kenneth A. Small & Clifford Winston & Jia Yan, 2005. "Uncovering the Distribution of Motorists' Preferences for Travel Time and Reliability," Econometrica, Econometric Society, vol. 73(4), pages 1367-1382, 07.
- 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.
- Robin Lindsey & Andre de Palma, 1998. "Information and Usage of Congestible Facilities Under Different Pricing Regimes," Canadian Journal of Economics, Canadian Economics Association, vol. 31(3), pages 666-692, August.
- Robert B. Noland & John W. Polak, 2002. "Travel time variability: A review of theoretical and empirical issues," Transport Reviews, Taylor & Francis Journals, vol. 22(1), pages 39-54, January.
- 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.
- Kobayashi, Kiyoshi & Do, Myungsik, 2005. "The informational impacts of congestion tolls upon route traffic demands," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(7-9), pages 651-670.
- Clark, Stephen & Watling, David, 2005. "Modelling network travel time reliability under stochastic demand," Transportation Research Part B: Methodological, Elsevier, vol. 39(2), pages 119-140, February.
- Chen, Anthony & Subprasom, Kitti, 2007. "Analysis of regulation and policy of private toll roads in a build-operate-transfer scheme under demand uncertainty," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(6), pages 537-558, July.
- de Palma, André & Picard, Nathalie, 2005. "Route choice decision under travel time uncertainty," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(4), pages 295-324, May.
- Richard H. M. Emmerink & Erik T. Verhoef & Peter Nijkamp & Piet Rietveld, 1996. "Endogenising demand for information in road transport," The Annals of Regional Science, Springer, vol. 30(2), pages 201-222.
- Liu, Henry X. & He, Xiaozheng & Recker, Will, 2007. "Estimation of the time-dependency of values of travel time and its reliability from loop detector data," Transportation Research Part B: Methodological, Elsevier, vol. 41(4), pages 448-461, May.
When requesting a correction, please mention this item's handle: RePEc:eee:transa:v:45:y:2011:i:3:p:204-218. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.