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Free Content Highway Investment Benefits under Alternative Pricing Regimes

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We examine the bias involved in adopting inefficient reference states as the basis for appraising road investments. User benefits from highway schemes are estimated with respect to both unpriced networks and ones subject to marginal cost (congestion) pricing on all links. We show from the analysis of several policies defined on a Cardiff network how that the difference between these measures depends on: the parameters of the demand and user cost functions and the highway policy under test. While the value of an investment under free use will typically exceed that under congestion pricing, under certain conditions, the reverse may occur. We have used "single link", "binary link", and equilibrium network models to interpret this behaviour in terms of the quantity and composition of generated traffic associated with capacity expansion policies and, in particular, the contributions from route substitution and induced traffic.

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Document Type: Research Article

Publication date: May 1, 2001

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  • JTEP is international both in terms of authors and readership. Since it first appeared, more than 650 papers have been published from Europe, North America, the Pacific Rim/Australasia, Africa, Asia, and South America. This international variety is also reflected in the readership.

    Published four times a year, the journal covers all modes of transport and a wide variety of economic themes, including: Passenger Transport, Freight Transport, Shipping, Aviation, Transport Infrastructure, Environment & Energy, Traffic, Planning and Policy, Safety, Costs & Pricing, Competition, Evaluation, Productivity, Demand & Elasticities, Service Quality, Economies of Scale, Economics Regulation and Choice.

    A complete indexing and article service is available FREE from 1967 to 2000

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