Models and Algorithms for Value Pricing Applications

University Of Florida, Gainesville FL

Investigators

Abstract

The objective of this research proposes to develop theory and algorithms for the second-best toll pricing problem, with an emphasis on the congestion/value pricing schemes of current interest in the design of transportation systems. The theoretical investigation will provide the foundation for the development of methods that will be tested and compared to assess their potential for use in practice. While done without the benefits of rigorous models for determining prices, early results from pilot programs in California, Florida, Maryland, Minnesota, and Texas show that tolling does have impact on traffic volume and, to a lesser degree, on transit ridership as well. The research addressed in this proposal will provide a rigorous framework for toll pricing models, and include current and proposed pricing concepts such as HOT (High Occupancy Toll) lanes, FAIR (Fast and Intertwined Regular) Lanes, and cordon systems. The methods developed will: provide mechanisms to aid transportation planners in determining and comparing toll pricing schemes that induce travelers to use urban transportation system more efficiently, assist planners in determining the efficiency of the existing and proposed pricing schemes, provide the means to predict impacts of pricing on urban traffic flows and on transit system usage, and provide information essential to the financial and political success of congestion/ value pricing programs.