Second-best Road Pricing through Highway Franchising
نویسندگان
چکیده
منابع مشابه
Second-best Road Pricing Through Highway Franchising
This paper considers the welfare impacts of a range of franchising regimes for congestible highways. For a single road in isolation, it is shown that a competitive auction with the level of road use as the decision criterion produces the socially optimal road (in terms of capacity and toll level) as the equilibrium outcome, provided constant returns to scale characterize highway operations. The...
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The Second-Best Toll Pricing (SBTP) problem aims to determine an optimal toll scheme for a given set of links in a transportation network so that traffic can be distributed more efficiently from the system point of view. SBTP can be further categorized as static SBTP or dynamic SBTP (DSBTP), depending on whether traffic dynamics are considered or not. In this paper, we focus on the static SBTP ...
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We propose a risk-neutral second best toll pricing scheme to account for the possible nonuniqueness of user equilibrium solutions. The scheme is designed to optimize for the expected objective value as the UE solution varies within the solution set. We show that such a risk-neutral scheme can be formulated as a stochastic program, which complements the traditional risk-prone second best toll pr...
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This paper considers the second-best problem where not all links of a congested transportation network can be tolled. The paper builds on earlier work, in which the secondbest tax rule for this problem was derived for general static networks, so that the solution presented is valid for any graph of the network, and for any set of tolling points available on that network. An algorithm is present...
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It has become increasingly common to allocate highway franchises to the bidder that offers to charge the lowest toll. Often, building a highway increases the value of land held by a small group of developers, an effect that is more pronounced with lower tolls. We study the welfare implications of highway franchises that benefit large developers, focusing on the incentives developers have to int...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2005
ISSN: 1556-5068
DOI: 10.2139/ssrn.785044