As opposed to conventional pricing approach, property rights (PR)-based measures have been proposed to mitigate roadway traffic congestion with better effect on quantity control. The objective of the paper is to highlight the applicability and prospects of the RP-based measure in roadway transport. First, a review of existing PR-based schemes reveals that there are plenty of inconsistencies and conflicts in the system designs; and administrative costs and transaction costs are the main concern to the PR-based schemes. The economic nature of roadway transport as private goods is illustrated to consolidate the basis of further developments of new forms of PR-based schemes (i.e., contractual market, CM). Two ways are suggested to establish the CMs on highways and streets, respectively, where private operators are authorized to provide premium transport services. Further discussions include issues on technological solutions, roadway ownership, institutional arrangement, and impacts on accessibility and mobility. In conclusion, the proposed CM possesses several advantages, e.g., reduced administrative costs, information costs, and transaction costs.


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    Title :

    Managing Roadway Congestion with Property Rights-Based Measures: Brief Review and New Developments


    Contributors:
    Fan, Wenbo (author)

    Conference:

    Fourth International Conference on Transportation Engineering ; 2013 ; Chengdu, China


    Published in:

    ICTE 2013 ; 1988-1994


    Publication date :

    2013-10-09




    Type of media :

    Conference paper


    Type of material :

    Electronic Resource


    Language :

    English




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