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ROAD PRICING: PAYING A PREMIUM

C K Orski

Abstract

This article explains the differences and benefits between congestion pricing and value pricing. Congestion pricing is meant to reduce demand on heavily congested roads by raising the cost of driving. Value pricing offers drivers the option of alternative road facilities that provide a superior level of service. One example of value priced facilities are the High Occupancy/Toll (HOT) lanes found in California. HOT lane users get value in the form of faster, more reliable and less stressful travel in free-flowing carpool lanes. Drivers have the option of staying the general purpose lanes and travel free, and more slowly, or they can pay a fee and enjoy a faster trip in the adjoining uncongested carpool lanes.

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Available abstract

Key concepts: Carpool, Toll, Singapore Area Licensing Scheme, Road pricing, Value of time, Congestion pricing, Transport engineering, Value (mathematics)