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Congestion pricing of multi-modal transportation systems

Author

Listed:
  • 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)

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.

Suggested Citation

  • Dong-Joo Moon & Chang-Ho Park, 2002. "Congestion pricing of multi-modal transportation systems," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 36(3), pages 455-481.
    • Handle: RePEc:spr:anresc:v:36:y:2002:i:3:p:455-481
    Note: Received: February 2001/Accepted: December 2001
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    More about this item

    JEL classification:

    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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