Congestion pricing of multi-modal transportation systems

Dong-Joo Moon () and Chang-Ho Park ()
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Dong-Joo Moon: Seoul National University, School of Civil, Urban, & Geosystem Engineering, San 56-1 Sillim-dong, Kwanak-gu, Seoul, Korea
Chang-Ho Park: Seoul National University, School of Civil, Urban, & Geosystem Engineering, San 56-1 Sillim-dong, Kwanak-gu, Seoul, Korea

The Annals of Regional Science, 2002, vol. 36, issue 3, 455-481

Abstract: This paper deals with the pricing and investment decision problem of multi-modal transportation systems in which the congestion is a significant factor in the assessment of system costs. This study approaches this congestion pricing problem with a number of social welfare maximization problems, all of which have the identical structure except financial constraints. One welfare maximization problem examined in this study yields the pricing and investment decision, which can attain the first-best social optimality for multi-modal transportation systems. Other welfare maximization problems show he second-best optimal solutions that can address two policy questions in transportation economics, namely, the cross-subsidy between competing modes and peak-period congestion charges on a single highway link.

JEL-codes: R41 R48 (search for similar items in EconPapers)
Date: 2002-10-21
Note: Received: February 2001/Accepted: December 2001
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