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THE OPTIMAL ROAD PRICING FOR A CORRIDOR WITH A NEW ELEVATED ROAD PROJECT

Chih‐Peng Chu, Jyh‐Fa Tsai

Abstract

This paper explores the optimal road pricing policy when a new elevated road is constructed in a corridor that suffers from traffic congestion before the elevated road is built. Due to the extra construction/maintenance expenditure for this new elevated road and the need to lessen congestion situation, the government decides to apply a road-pricing mechanism on the transportation system. Three pricing policies are discussed in this paper: (a) charging the travelers who live after the entrance of the new elevated road by a flat toll; (b) charging the travelers who live after the entrance of the new elevated road but the new elevated road users and original road users would pay different toll; and (c) charging all the travelers with different congestion toll depending on which path they use. The numerical result shows the existence of the social optimal corresponding toll. The best pricing policy among these three alternatives is also discussed.

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Key concepts: Toll, Road pricing, Singapore Area Licensing Scheme, Congestion pricing, Toll road, Transport engineering, Traffic congestion, Government (linguistics)