Quantifying the benefit of responsive pricing and travel information in the stochastic congestion pricing problem

Research output: Contribution to journalResearch articleContributedpeer-review

Contributors

  • Lauren M. Gardner - , University of Texas at Austin (Author)
  • Stephen D. Boyles - , University of Wyoming (Author)
  • S. Travis Waller - , University of Texas at Austin (Author)

Abstract

This paper is concerned with roadway pricing amidst the uncertainty which characterizes long-term transportation planning. Uncertainty is considered both on the supply-side (e.g., the effect of incidents on habitual route choice behavior) and on the demand-side (e.g., due to prediction errors in demand forecasting). The framework developed in this paper also allows the benefits of real-time travel information to be compared directly against the benefits of responsive pricing, allowing planning agencies to identify the value of these policy options or contract terms in publicly-operated toll roads. Specifically, six scenarios reflect different combinations of policy options, and correspond to different solution methods for optimal tolls. Demonstrations are provided on both the Sioux falls and Anaheim networks. Results indicate that providing information to drivers implemented alongside responsive tolling may reduce expected total system travel time by over 9%, though more than 8% of the improvement is due to providing information, with the remaining 1% improvement gained from responsive tolling.

Details

Original languageEnglish
Pages (from-to)204-218
Number of pages15
JournalTransportation Research Part A: Policy and Practice
Volume45
Issue number3
Publication statusPublished - Mar 2011
Peer-reviewedYes
Externally publishedYes

External IDs

ORCID /0000-0002-2939-2090/work/141543830

Keywords

Keywords

  • Congestion pricing, Demand uncertainty, Information, Revenue variability, Supply uncertainty, Toll road returns