A Sequential Experimental Approach for Analyzing Second-Best Road Pricing with Unknown Demand Functions

This paper has described how, in recent years, road pricing as a way to reduce traffic congestion and raise revenues to fund transportation improvements has received substantial added interest. Practical implementation has been progressing rapidly, for instance, electronic road pricing schemes have been proposed and implemented worldwide in places like Hong Kong, Singapore, California, and most recently in London. With availability of new pricing technology and increasing concern over external cost, it is conceivable that there will be greater use of road pricing as an effective traffic management tool over the next few years. This chapter has developed an encouraging procedure for trial-and-error implementation of the second best congestion pricing on a general road network with unknown demand functions. The procedure involves sequential alternative solutions of the bi-level O-D demand estimation and bi-level toll optimization problems. The technique presented here has the potential to allow a traffic planner to easily estimate the second-best link tolls from readily available traffic counts without resorting to the demand functions, and thus overcome the practical difficulty in designing a realistic second-best road pricing scheme.

Language

  • English

Media Info

  • Media Type: Print
  • Features: Figures; References;
  • Pagination: pp 23-42
  • Monograph Title: Transportation and Traffic Theory. Flow, Dynamics and Human Interaction. 16th International Symposium on Transportation and Traffic Theory

Subject/Index Terms

Filing Info

  • Accession Number: 01002806
  • Record Type: Publication
  • ISBN: 0080446809
  • Files: TRIS, ATRI
  • Created Date: Aug 3 2005 11:24AM