Mathematical and economic theory of road pricing

Road pricing as an effective instrument to manage travel demand and raise additional revenue for transport improvement has been studied extensively by both transportation researchers and economists. An increasing number of congestion pricing schemes have been proposed, tested or implemented worldwide. This book provides the most recent methodological advances in applying advanced modeling techniques to road pricing. Most studies presented in the book are carried out within the general network equilibrium context with rigorous optimization and economic theories. The book is thus distinguished from other monographs that have focused on the empirical aspects, policy experiences, and environmental issues of road congestion and road pricing.

Introduction. Fundamentals of User-Equilibrium Problems. The First-Best Road Pricing Problems. The Second-Best Road Pricing Problems: A Sensitivity Analysis Based Approach.The Second-Best Road Pricing Problems: A Gap Function Based Approach. Discriminatory and Anonymous Road Pricing. Social and Spatial Equities and Revenue Redistribution. Pricing, Capacity Choice and Financing. Simultaneous Determination of Optimal Toll Levels and Locations. Sequential Pricing Experiments with Limited Information. Bounding the Efficiency Gain or Loss of Road Pricing. Dynamic Road Pricing: Single and Parallel Bottleneck Models. Dynamic Road Pricing: General Network Models.

Students & researchers

Road pricing is an idea whose time has come. As we invoke new information and computer technologies to monitor, manage and operate or transportation systems more efficiently and effectively, and as we wrestle with significant and growing problems of environment, congestion, energy and equity affecting urban transport, new and alternative solutions are needed. We have to make urban transportation more sustainable, more responsive, and more intelligent. Road pricing is one approach to achieving these goals, a smarter way of running a transportation system. Whilst the concepts and constructs of road pricing have been well known for some time, the methods and technology to employ them have only recently arrived, and the socio-political will to implement road pricing is just beginning to appear