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| Small, Kenneth A.; Yan, Jia. |
| Some road-pricing demonstrations use an approach call ed "value pricing", in which travelers can choose between a free but congested roadway and a priced roadway. Recent research has uncovered a potentially serious problem for such demonstrations: in certain models, second-best tolls are far lower than those typically charged, and the welfare gains from profit maximization are small or even negative. That research, however, assumes that all travelers are identical, and it therefore neglects the benefits of product differentiation, by which people with different values of time can choose a suitable cost / quality combination. Using a model with two user groups, we find that accounting for heterogeneity in value of time is important in evaluating constrained... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Value pricing; Congestion pricing; Value of time; Road pricing; High occupancy/toll lanes; Public Economics. |
| Ano: 2000 |
URL: http://purl.umn.edu/10550 |
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| Safirova, Elena; Gillingham, Kenneth; Parry, Ian W.H.; Nelson, Peter; Harrington, Winston; Mason, David. |
| Economists have long advocated congestion pricing as an efficient way of allocating scarce roadway capacity. However, with a few exceptions, congestion tolls are rarely used in practice and strongly opposed by the public and elected officials. Although high implementation costs and privacy issues are alleviated as appropriate technologies are developed, the concerns that congestion pricing will adversely affect low-income travelers remain. In this paper, we use a strategic transportation planning model calibrated for the Washington, DC, metropolitan area to compare the welfare and distributional effects of three pricing schemes: value pricing (HOT lanes), limited congestion pricing, and comprehensive congestion pricing. We find that social welfare gains... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Traffic congestion; Congestion pricing; Value pricing; HOT lanes; HOV lanes; Public Economics; R40; R41; R48; H23. |
| Ano: 2003 |
URL: http://purl.umn.edu/10697 |
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