Information Effects in Transport with Stochastic Capacity and Uncertainty Costs
In this paper, the impact of information provision to travelers using a model based on a stochastic equilibrium concept is analyzed. A new analytical framework is proposed by including a specific term related to the costs of travel-time uncertainty, per se, into the generalized cost function. Different driver information models are analyzed to assess the efficiency-improving features of driver information systems compared with the (optimal) first-best policy of road pricing. The results reveal that the potential of driver information systems as an efficiency-improving policy instrument are underestimated if costs of uncertainty are ignored. Coauthors are Erik T. Verhoef, Peter Nijkamp, and Piet Rietveld. Copyright 1998 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
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Volume (Year): 39 (1998)
Issue (Month): 1 (February)
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