Cordon Pricing Consistent with the Physics of Overcrowding

TRANSPORTATION AND TRAFFIC THEORY 2009: GOLDEN JUBILEE, pp. 219-240, William H. K. Lam, S. C. Wong and Hong K. Lo, eds., Springer, 2009

Eighteenth International Symposium on Transportation and Traffic Theory, July 2009

22 Pages Posted: 27 Jan 2011

Date Written: July 1, 2009

Abstract

This paper describes the modeling of recurring congestion in a network. It is shown that the standard economic models of marginal cost cannot describe precisely traffic congestion in networks during time-dependent conditions. Following a macroscopic traffic approach, we describe the equilibrium solution for a congested network in the no-toll case. A dynamic model of cordon-based congestion pricing (such as for the morning commute) for networks is developed consistent with the physics of traffic. The paper combines Vickrey’s theory with a macroscopic traffic model, which is readily observable with existing monitoring technologies. The paper also examines some policy implications of the cordon-based pricing to treat equity and reliability issues, i.e. in what mobility level a city should choose to operate. An application of the model in a downtown area shows that these schemes can improve mobility and relieve congestion in cities.

Keywords: traffic congestion, networks, cordon-based congestion pricing, model

JEL Classification: R40, R41, C51

Suggested Citation

Geroliminis, Nikolas and Levinson, David Matthew, Cordon Pricing Consistent with the Physics of Overcrowding (July 1, 2009). TRANSPORTATION AND TRAFFIC THEORY 2009: GOLDEN JUBILEE, pp. 219-240, William H. K. Lam, S. C. Wong and Hong K. Lo, eds., Springer, 2009; Eighteenth International Symposium on Transportation and Traffic Theory, July 2009. Available at SSRN: https://ssrn.com/abstract=1748602

Nikolas Geroliminis

EPFL ( email )

Station 5
Odyssea 1.04
1015 Lausanne, CH-1015
Switzerland

HOME PAGE: http://luts.epfl.ch

David Matthew Levinson (Contact Author)

affiliation not provided to SSRN

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