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Information Effects in Transport with Stochastic Capacity and Uncertainty Costs

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  • Emmerink, Richard H M, et al

Abstract

In this paper, the impact of information provision to travelers using a model based on a stochastic equilibrium concept is analyzed. A new analytical framework is proposed by including a specific term related to the costs of travel-time uncertainty, per se, into the generalized cost function. Different driver information models are analyzed to assess the efficiency-improving features of driver information systems compared with the (optimal) first-best policy of road pricing. The results reveal that the potential of driver information systems as an efficiency-improving policy instrument are underestimated if costs of uncertainty are ignored. Coauthors are Erik T. Verhoef, Peter Nijkamp, and Piet Rietveld. Copyright 1998 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Suggested Citation

  • Emmerink, Richard H M, et al, 1998. "Information Effects in Transport with Stochastic Capacity and Uncertainty Costs," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(1), pages 89-110, February.
    • Handle: RePEc:ier:iecrev:v:39:y:1998:i:1:p:89-110
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    Cited by:

    1. Zhang, Rong & Verhoef, Erik T., 2006. "A monopolistic market for advanced traveller information systems and road use efficiency," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(5), pages 424-443, June.
    2. repec:dgr:uvatin:20100091 is not listed on IDEAS
    3. Lindsey, Robin, 2011. "State-dependent congestion pricing with reference-dependent preferences," Transportation Research Part B: Methodological, Elsevier, vol. 45(10), pages 1501-1526.
    4. Robin Lindsey & André de Palma & Pouya Rezaeini, 2022. "Tolls vs tradable permits for managing travel on a bimodal congested network with variable capacities and demands," THEMA Working Papers 2022-06, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    5. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1999. "Information and time-of-usage decisions in the bottleneck model with stochastic capacity and demand," European Economic Review, Elsevier, vol. 43(3), pages 525-548, March.
    6. André de Palma & Robin Lindsey & Nathalie Picard, 2012. "Risk Aversion, the Value of Information, and Traffic Equilibrium," Transportation Science, INFORMS, vol. 46(1), pages 1-26, February.
    7. Gubins, Sergejs & Verhoef, Erik T. & de Graaff, Thomas, 2012. "Welfare effects of road pricing and traffic information under alternative ownership regimes," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(8), pages 1304-1317.

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