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A cost-benefit analysis of tunnel investment and tolling alternatives in Antwerp

Author

Listed:
  • PROOST, Stef
  • VAN DER LOO, Saskia
  • DE PALMA, André
  • LINDSEY, Robin

Abstract

This paper presents and illustrates a comprehensive and operational model for assessing transport pricing and investment policies and regulatory regimes. The approach encompasses intra-modal as well as inter-modal competition, and could be used either by private operators or by the legislator for the purpose of evaluating market conduct. The model combines elements of contract theory, public economics, political economy, transportation economics and game theory. It incorporates a CES-based discrete-choice framework in which user charges and infrastructure investments are endogenously determined for two competing alternatives (air, rail or two parallel roads) that may be used for transportation of passengers and/or freight. The model includes separate modules for demand, supply, equilibrium and the regulatory framework. The demand module for passenger transport features a CES decision tree with three levels: choice between transport and consumption of a composite commodity, choice between peak and off-peak periods, and choice between the two transport alternatives. Elasticities of substitution at each level are parametrically given. Passengers can be segmented into classes that differ with respect to their travel preferences, incomes and costs of travel time. The demand module for freight transport also features three levels. The first level encompasses choice between transport and other production inputs, and the second and third levels are the same as for passenger transport. Freight transport can be segmented into local and transit traffic. The supply module specifies for each transport alternative travel time as a function of traffic volume and a rule for infrastructure maintenance. Operating, maintenance and investment costs are allowed to depend on the contractual form. Given the demand and supply functions, the equilibrium module computes a fixed-point solution in terms of prices and levels of congestion. Finally, the exogenous regulatory framework stipulates
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Suggested Citation

  • PROOST, Stef & VAN DER LOO, Saskia & DE PALMA, André & LINDSEY, Robin, 2005. "A cost-benefit analysis of tunnel investment and tolling alternatives in Antwerp," LIDAM Reprints CORE 1883, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:1883
    Note: In : European Transport/Trasporti Europei, 31, 83-100, 2005
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    Cited by:

    1. Cantos-Sánchez, Pedro & Moner-Colonques, Rafael & Sempere-Monerris, José J. & Álvarez-SanJaime, Óscar, 2011. "Viability of new road infrastructure with heterogeneous users," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(5), pages 435-450, June.
    2. de Palma, André & Lindsey, Robin & Proost, Stef & Van der Loo, Saskia, 2007. "Chapter 5 Comparing alternative pricing and revenue use strategies with the MOLINO model," Research in Transportation Economics, Elsevier, vol. 19(1), pages 111-131, January.
    3. Massiani, Jérôme & Maltese, Ila, 2022. "Thirty years of socio-economic evaluation of the Lyon–Turin High–Speed rail project," Research in Transportation Economics, Elsevier, vol. 94(C).
    4. de Palma, Andre & Marcucci, Edoardo & Niskanen, Esko & Wieland, Bernhard, 2005. "Introduction," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 31, pages 1-5.
    5. Pedro Cantos-Sanchez & Rafael Moner-Colonques & Jose J. Sempere-Monerris & Oscar Alvarez, 2008. "Viability of a New Road Infrastructure with Heterogeneous Users in Madrid Access," Working Papers 2008-06, FEDEA.
    6. Bushansky, S., 2021. "Inefficiency of road concessions in Russia: exception or rule?," Journal of the New Economic Association, New Economic Association, vol. 50(2), pages 97-118.

    More about this item

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy

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