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Road Pricing with Autonomous Links

  • Lei Zhang
  • David Levinson

    ()

    (Nexus (Networks, Economics, and Urban Systems) Research Group, Department of Civil Engineering, University of Minnesota)

This research examines road pricing on a network of autonomous highway links. By autonomous it is meant that the links are competitive and independent, with the objective of maximizing their own profits without regard for either social welfare or the profits of other links. The principal goal of the research is to understand the implications of adoption of road pricing and privatization on social welfare and the distribution of gains and losses. The specific pricing strategies of autonomous links are evaluated first under the condition of competition for simple networks. An agent-based modeling system is developed which integrates an equilibrated travel demand, route choice, and travel time model with a repeated game of autonomous links setting prices to maximize profit. The levels of profit, welfare consequences, and potential cooperative arrangements undertaken by autonomous links will be evaluated. By studying how such an economic system may behave under various circumstances, the effectiveness of road pricing and road privatization as public policy can be assessed.

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File URL: http://nexus.umn.edu/Papers/AutonomousPricing.pdf
File Function: First version, 2007
Download Restriction: no

Paper provided by University of Minnesota: Nexus Research Group in its series Working Papers with number 200506.

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Date of creation: 2005
Date of revision:
Publication status: Published in Journal of the Transportation Research Board #1932 pp. 147-155.
Handle: RePEc:nex:wpaper:autonomouspricing
Contact details of provider: Postal: Dept. of Civil Engineering, 500 Pillsbury Drive SE, Minneapolis, MN 55455
Phone: +01 (612) 625-6354
Fax: +01 (612) 626-7750
Web page: http://nexus.umn.edu

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  1. Nicholas Economides, 1995. "The Economics of Networks," Working Papers 94-24, New York University, Leonard N. Stern School of Business, Department of Economics, revised Sep 1995.
  2. Lei Zhang & David Levinson, 2004. "An Agent-Based Approach to Travel Demand Modeling: An Exploratory Analysis," Working Papers 200405, University of Minnesota: Nexus Research Group.
  3. David Levinson & Ramachandra Karamalaputi, 2003. "Induced Supply: A Model of Highway Network Expansion at the Microscopic Level," Working Papers 200304, University of Minnesota: Nexus Research Group.
  4. Bar-Gera, Hillel & Boyce, David, 2003. "Origin-based algorithms for combined travel forecasting models," Transportation Research Part B: Methodological, Elsevier, vol. 37(5), pages 405-422, June.
  5. Lei Zhang & David Levinson, 2004. "Pricing, Investment, and Network Equilibrium," Working Papers 000032, University of Minnesota: Nexus Research Group.
  6. David Levinson & David Gillen, 1997. "The Full Cost of Intercity Highway Transportation," Working Papers 199704, University of Minnesota: Nexus Research Group.
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