haku: @author Small, K.A. / yhteensä: 1
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| Tekijä: | Verhoef, E.T. Small, K.A. |
| Otsikko: | Product differentiation on roads. Constrained congestion pricing with heterogeneous users |
| Lehti: | Journal of Transport, Economics and Policy
2004 : JAN, VOL. 38:1, p. 127-156 |
| Asiasana: | Product differentiation Roads Pricing Models |
| Kieli: | eng |
| Tiivistelmä: | This paper explores the properties of various types of public and private pricing on congested road network, with heterogeneous users, and allowing for elastic demand. The network allows to model certain features of real-world significance: pricing restrictions on either complementary or substitute links, as well as interactions btw. different user groups on shared links. It is found that revenue-maximising pricing is much less efficient than welfare-maximising pricing, but this difference is mitigated by the product differentiation made possible with heterogeneous users. Ignoring heterogeneity causes the welfare benefits of a policy of current interest, namely second-best pricing of one of two parallel links, to be dramatically underestimated. Unlike first-best policies, second-best policies are in danger of losing much of their potential effectiveness if heterogeneity is ignored when setting toll levels. |
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