Yang, H.;
Xu, W.;
Heydecker, B.G.;
(2010)
Bounding the efficiency of road pricing.
Transportation Research Part E: Logistics and Transportation Review
, 46
(1)
pp. 90-108.
10.1016/j.tre.2009.05.007.
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Abstract
This paper deals with the following question associated with congestion pricing in a general network with either fixed or elastic travel demand: what is the maximum efficiency loss of a general second-best pricing scheme due to inexact marginal-cost pricing in comparison with the first-best pricing or system optimum case? A formal answer to this question is provided by establishing an inefficiency bound associated with a given road pricing scheme. An application of the methods is provided for the practical trial-and-error implementation of marginal-cost pricing with unknown demand functions.
| Type: | Article |
|---|---|
| Title: | Bounding the efficiency of road pricing |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1016/j.tre.2009.05.007 |
| Publisher version: | http://dx.doi.org/10.1016/j.tre.2009.05.007 |
| Language: | English |
| Keywords: | Nash game, inefficiency, congestion pricing, traffic equilibria |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Civil, Environ and Geomatic Eng |
| URI: | https://discovery.ucl.ac.uk/id/eprint/18969 |
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