Investment, Pricing, and Efficiency of Private Road with Heterogeneous Trip-Makers

When a private firm is franchised to finance modern road systems, the strategy of the firm in determining investment and price levels has to be carefully examined, since profit-oriented behavior may not be fully efficient for the whole society. This paper examines the bias of a monopoly market away from the social optimum under the more realistic assumption that each trip-maker has a unique value-of-time (VOT). The road capacity and/or toll set by a monopolist are investigated under different kinds of regimes.

• Record URL:
  • https://doi.org/10.1061/41184(419)142
• Record URL:
  • http://ascelibrary.org/doi/abs/10.1061/41184%28419%29142
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/isbn/9780784411841
• Supplemental Notes:
  • Copyright © 2011 ASCE
• Corporate Authors:

  American Society of Civil Engineers

  1801 Alexander Bell Drive
  Reston, VA  United States  20191-4400
• Authors:
  • Xiao, Feng
• Conference:
  • Third International Conference on Transportation Engineering (ICTE)
  • Location: Chengdu , China
  • Date: 2011-7-23 to 2011-7-25
• Publication Date: 2011

Language

• English

Media Info

• Media Type: Digital/other
• Features: References;
• Pagination: pp 859-864
• Monograph Title: ICTE 2011

Subject/Index Terms

• TRT Terms: Heterogeneity; Highway capacity; Investments; Monopoly; Pricing; Private enterprise; Private roads; Value of time
• Subject Areas: Finance; Highways; Planning and Forecasting; I10: Economics and Administration; I72: Traffic and Transport Planning;

Filing Info

• Accession Number: 01446868
• Record Type: Publication
• ISBN: 9780784411841
• Files: TRIS, ASCE
• Created Date: Sep 20 2012 11:11AM