TCRP Report 95: Chapter 14 – Road Value Pricing: Traveler Response to Transportation System Changes
"TCRP Report 95: Chapter 14 – Road Value Pricing: Traveler Response to Transportation System Changes"
John E. (Jay) Evans, IV, Lead Chapter Author, Kiran U. Bhatt and Katherine F. Turnbull
Transportation Research Board Transit Cooperative Research Program
Roadway value pricing employs market forces to allocate limited highway capacity among users by their need to travel and their willingness to pay. The concept, akin to what has been known as congestion pricing, involves charging higher prices for roadway use during peak travel periods, much as telephone companies charge more for calls during peak calling periods. Drivers may choose not to travel or select an alternative time, route, or mode of travel if they are unwilling to pay. Drivers who pay receive the value of being able to drive, when they choose to, with reduced congestion. This report chapter focuses on automobile-oriented pricing, including discussion of impact on other travel modes. The emphasis is on pricing for urbanized areas, although one particularly instructive example of intercity value pricing is offered. Toll roads with static pricing are not considered to be within the realm of road value pricing or the scope of this chapter, but are looked to for specific relevant lessons. Otherwise, a broad definition of value pricing is used, one inclusive of most existing congestion pricing.
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