Highway Reservation System Design and Its Application to Freight Transportation

Congestion and safety associated with freight trucks are key issues that arise in the context of highway transportation, especially in the heavily-traveled commercial corridors. To address these issues, truck-only lanes for freight trucks have been proposed as a solution to improve the productivity and reduce congestion, safety hazards and emissions. Truck-only lanes combined with a reservation system can potentially enable efficient operations and reliable demand management to guarantee high quality of service. In this regard, a reservation system with a real options approach can address key issues associated with the user-pays principle (i.e., the beneficiaries of truck-only lanes pay the toll) and fair reservation fees for both highway operators and the users for truck-only lanes. This research seeks to develop an option-pricing mechanism consistent with the highway system’s operation and to formulate a closed-form pricing-function on reservation options on truck-only lanes to guarantee a threshold level of service, given the vulnerability associated with system management failure.

• Record URL:
  http://www.purdue.edu/discoverypark/nextrans/assets/pdfs/057PY03%20Final%20Report.pdf
• 
• Supplemental Notes:
  • This document was sponsored by the U.S. Department of Transportation, University Transportation Centers Program.
• Corporate Authors:

  NEXTRANS

  Purdue University
  3000 Kent Avenue
  Lafayette, IN  United States  47906-1075

  Research and Innovative Technology Administration

  1200 New Jersey Avenue, SE
  Washington, DC  United States  20590
• Authors:
  • Lee, Choungryeol
  • He, Xiaozheng
  • Peeta, Srinivas
  • Chu, Chih-Peng
• Publication Date: 2014-5-15

Language

• English

Media Info

• Media Type: Digital/other
• Edition: Final Report
• Features: Figures; References; Tables;
• Pagination: 46p

Subject/Index Terms

• TRT Terms: Freight transportation; Highways; Rates, fares and tolls; Reservations; Travel demand management; Truck lanes; Truck traffic; User charges
• Subject Areas: Finance; Freight Transportation; Operations and Traffic Management; I10: Economics and Administration; I73: Traffic Control;

Filing Info

• Accession Number: 01529393
• Record Type: Publication
• Report/Paper Numbers: Project No. 057PY03
• Contract Numbers: DTRT07-G-005
• Files: UTC, TRIS, RITA, ATRI, USDOT
• Created Date: Jun 30 2014 9:41AM