AbstractThis paper deals with the following question associated with congestion pricing in a general network with either fixed or elastic travel demand: what is the maximum efficiency loss of a general second-best pricing scheme due to inexact marginal-cost pricing in comparison with the first-best pricing or system optimum case? A formal answer to this question is provided by establishing an inefficiency bound associated with a given road pricing scheme. An application of the methods is provided for the practical trial-and-error implementation of marginal-cost pricing with unknown demand functions.
Bounding the efficiency of road pricing
Transportation Research Part E: Logistics and Transportation Review ; 46 , 1 ; 90-108
2009-05-30
19 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
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