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Impact of Value of Time (VOT) on toll roads

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  • M. Rouhani, Omid

Abstract

This paper provides a brief overview of the concept of value of time (VOT), in the context of toll road schemes. VOT analysis determines the tradeoffs travelers make between time and tolls. The analysis is very important when considering the choice between tolled and un-tolled alternatives. Using travel demand model of Fresno, CA, I provide a sensitivity analysis showing how the outcomes of tolling schemes can change with varying VOT levels.

Suggested Citation

  • M. Rouhani, Omid, 2015. "Impact of Value of Time (VOT) on toll roads," MPRA Paper 65087, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:65087
    as

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    File URL: https://mpra.ub.uni-muenchen.de/65087/1/MPRA_paper_65087.pdf
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    References listed on IDEAS

    as
    1. Chen, Mei & Bernstein, David H., 2004. "Solving the toll design problem with multiple user groups," Transportation Research Part B: Methodological, Elsevier, vol. 38(1), pages 61-79, January.
    2. Anthony E. BOARDMAN & Aidan R. VINING, 2012. "The Political Economy Of Public‐Private Partnerships And Analysis Of Their Social Value," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 83(2), pages 117-141, June.
    3. Prud'homme, Rémy & Bocarejo, Juan Pablo, 2005. "The London congestion charge: a tentative economic appraisal," Transport Policy, Elsevier, vol. 12(3), pages 279-287, May.
    4. Safirova, Elena & Gillingham, Kenneth & Houde, Sébastien, 2007. "Measuring marginal congestion costs of urban transportation: Do networks matter?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(8), pages 734-749, October.
    5. M. Rouhani, Omid, 2014. "Road pricing: An overview," MPRA Paper 59662, University Library of Munich, Germany.
    6. Rouhani, Omid M. & Oliver Gao, H. & Richard Geddes, R., 2015. "Policy lessons for regulating public–private partnership tolling schemes in urban environments," Transport Policy, Elsevier, vol. 41(C), pages 68-79.
    7. repec:eme:rhetpp:rhet.2015.33 is not listed on IDEAS
    8. Jean-Etienne de Bettignies & Thomas W. Ross, 2004. "The Economics of Public-Private Partnerships," Canadian Public Policy, University of Toronto Press, vol. 30(2), pages 135-154, June.
    9. Rouhani, Omid M. & Niemeier, Debbie & Knittel, Christopher R. & Madani, Kaveh, 2013. "Integrated modeling framework for leasing urban roads: A case study of Fresno, California," Transportation Research Part B: Methodological, Elsevier, vol. 48(C), pages 17-30.
    10. 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.
    11. Ali Mirchi & Saeed Hadian & Kaveh Madani & Omid M. Rouhani & Azadeh M. Rouhani, 2012. " World Energy Balance Outlook and OPEC Production Capacity: Implications for Global Oil Security," Energies, MDPI, Open Access Journal, vol. 5(8), pages 1-26, July.
    12. Yang, Hai & Huang, Hai-Jun, 2004. "The multi-class, multi-criteria traffic network equilibrium and systems optimum problem," Transportation Research Part B: Methodological, Elsevier, vol. 38(1), pages 1-15, January.
    13. Small, Kenneth A., 2012. "Valuation of travel time," Economics of Transportation, Elsevier, vol. 1(1), pages 2-14.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. M. Rouhani, Omid, 2015. "Revenue Risk Mitigation Options for Toll Roads," MPRA Paper 67662, University Library of Munich, Germany.
    2. M Rouhani, Omid, 2016. "Social welfare analysis of HOV to HOT conversion," MPRA Paper 75816, University Library of Munich, Germany.

    More about this item

    Keywords

    Value of time; Road pricing; Congestion pricing; Optimal toll; Profits; System-wide costs.;

    JEL classification:

    • H4 - Public Economics - - Publicly Provided Goods
    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy

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