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| Author: | Mun, S. Ahn, K. |
| Title: | Road pricing in a serial network |
| Journal: | Journal of Transport Economics and Policy
2008 : SEP, VOL. 42: 3 p. 367-395 |
| Index terms: | transport economics road transport pricing distribution of wealth congestion |
| Freeterms: | road tolls private toll roads public toll roads |
| Language: | eng |
| Abstract: | This paper introduces a transport system model with two road links in a series describing traffic patterns under various pricing regimes. Various mixes of road operation are considered, including private-public toll roads, free-private toll roads, and free-public toll roads. We derive the pricing rules and assess the economic welfare under alternative regimes. Inter-regional welfare distribution is also discussed. It is shown that the pricing rules applied by a public operator are different from those in a parallel network, and the relative efficiency of alternative regimes hangs on road congestion. A mix of private and public toll roads achieves higher economic welfare and lower disparity, specifically in the presence of heavy congestion. |
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