Comparison of judgmental and optimal road pricing cordons
The performance of cordon pricing schemes is critically dependent on the location chosen for the cordon, and the toll imposed. Most cordon designs have been based on professional judgment, in the absence of guidance on the principles of efficient design. In this paper, a methodology based on Genetic Algorithms has been developed to identify the optimal location and toll level for one or more cordons, for a given objective function, with or without constraints on the design or required outcomes. To compare the performance of judgmental and optimal cordon designs, the method has been tested on a network of Edinburgh, with optimisation designed to achieve welfare maximisation with and without constraints on desired level of revenue and equity impact. The methodology is shown to generate appropriate solutions to all of these problems. The optimal single cordon achieves welfare benefits which are double those of the best judgmentally designed cordon. Constrained optima inevitably achieve lower benefits, but it is possible to design them so that this loss is minimised.
Volume (Year): 12 (2005)
Issue (Month): 5 (September)
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/30473/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
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.:
- Langmyhr, Tore, 1997. "Managing equity : The case of road pricing," Transport Policy, Elsevier, vol. 4(1), pages 25-39, January.
- Mun, Se-il & Konishi, Ko-ji & Yoshikawa, Kazuhiro, 2003. "Optimal cordon pricing," Journal of Urban Economics, Elsevier, vol. 54(1), pages 21-38, July.
- Verhoef, Erik T., 2002. "Second-best congestion pricing in general networks. Heuristic algorithms for finding second-best optimal toll levels and toll points," Transportation Research Part B: Methodological, Elsevier, vol. 36(8), pages 707-729, September.
- Hyman, Geoffrey & Mayhew, Les, 2002. "Optimizing the benefits of urban road user charging," Transport Policy, Elsevier, vol. 9(3), pages 189-207, July.
- May, A. D. & Liu, R. & Shepherd, S. P. & Sumalee, A., 2002. "The impact of cordon design on the performance of road pricing schemes," Transport Policy, Elsevier, vol. 9(3), pages 209-220, July.
- Zhang, Xiaoning & Yang, Hai, 2004. "The optimal cordon-based network congestion pricing problem," Transportation Research Part B: Methodological, Elsevier, vol. 38(6), pages 517-537, July.