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http://hdl.handle.net/10397/96002
Title: | Cordon toll pricing in a multi-modal linear monocentric city with stochastic auto travel time | Authors: | Chen, YJ Li, ZC Lam, WHK |
Issue Date: | 2018 | Source: | Transportmetrica. A, Transport science, 2018, v. 14, no. 1-2, p. 22-49 | Abstract: | This paper proposes an analytical model to determine the optimal cordon toll pricing scheme in a linear monocentric city with a competitive railway/highway system. It is assumed that the daily commuting time by rail mode is deterministic, while that by auto is stochastic and location dependent across the city. The travel time uncertainty could affect residents’ residential location choices and thus the urban spatial structure due to a long-term adjustment. In order to hedge against travel time variability on highway, commuters by auto often consider a travel time budget longer than the expected trip time to avoid late arrivals. It shows that ignorance of auto travel time variation may cause a significant bias in the prediction of the urban spatial structure in terms of residential distribution and city size. The implementation of cordon toll pricing scheme can rationalize the urban residential distribution and increase the social welfare of the urban system. | Keywords: | Cordon toll pricing scheme Households’ residential location choices Mode choice Travel time budget Travel time uncertainty |
Publisher: | Taylor & Francis | Journal: | Transportmetrica. A, Transport science | ISSN: | 2324-9935 | EISSN: | 2324-9943 | DOI: | 10.1080/23249935.2017.1286411 | Rights: | © 2017 Hong Kong Society for Transportation Studies Limited This is an Accepted Manuscript of an article published by Taylor & Francis in Transportmetrica A: Transport Science on 15 Feb 2017 (published online), available at: http://www.tandfonline.com/10.1080/23249935.2017.1286411. |
Appears in Collections: | Journal/Magazine Article |
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File | Description | Size | Format | |
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Lam_Cordon_Toll_Pricing.pdf | Pre-Published version | 1.46 MB | Adobe PDF | View/Open |
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