Cordon Pricing Consistent with the Physics of Overcrowding

Nikolas Geroliminis and David Levinson
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Nikolas Geroliminis: University of Minnesota

Chapter Chapter 11 in Transportation and Traffic Theory 2009: Golden Jubilee, 2009, pp 219-240 from Springer

Abstract: Abstract This paper describes the modeling of recurring congestion in a network. It is shown that the standard economic models of marginal cost cannot describe precisely traffic congestion in networks during time-dependent conditions. Following a macroscopic traffic approach, we describe the equilibrium solution for a congested network in the no-toll case. A dynamic model of cordon-based congestion pricing (such as for the morning commute) for networks is developed consistent with the physics of traffic. The paper combines Vickrey’s theory with a macroscopic traffic model, which is readily observable with existing monitoring technologies. The paper also examines some policy implications of the cordon-based pricing to treat equity and reliability issues, i.e. in what mobility level a city should choose to operate. An application of the model in a downtown area shows that these schemes can improve mobility and relieve congestion in cities.

Keywords: Road Price; Congestion Price; Transportation Research Part; Average Travel Time; Dynamic Traffic Assignment (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-1-4419-0820-9_11

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