Risk neutral second best toll pricing.

Details

• Creators:
  Ban, Xuegang (Jeff)
• Corporate Creators:
  Rensselaer Polytechnic Institute. Department of Civil and Environmental Engineering
• Corporate Contributors:
  United States. Federal Highway Administration ; New York Metropolitan Transportation Council
• Subject/TRT Terms:
  • Tolls
  • Pricing
  • Risk management
  • Simulation
  • Traffic equilibrium
  • Congestion pricing
  • Stochastic programming Toll roads--Prices
  • Traffic congestion--Management
  • Stochastic programming
  • User charges
• Resource Type:
  Tech Report
• Geographical Coverage:
  United States
• Corporate Publisher:
  University Transportation Centers Program (U.S.)
• Abstract:
  We propose a risk-neutral second best toll pricing scheme to account for the possible no uniqueness ; of user equilibrium solutions. The scheme is designed to optimize for the expected objective value ; as the UE solution varies within the solution set. We show that such a risk-neutral scheme can be ; formulated as a stochastic program, which complements the traditional risk-prone second best toll ; pricing (SBTP) approach and the risk-averse SBTP approach we developed recently. The proposed ; model can be solved by a simulation-based optimization algorithm that contains three major steps: ; characterization of the UE solution set, random sampling over the solution set, and a two-phase ; simulation optimization step. Numerical results illustrate that the proposed risk-neutral design ; scheme is less aggressive than the risk-prone scheme and less conservative than the risk-averse ; scheme, and may thus be more preferable from a toll designer's point of view.
• Format:
  PDF
• Funding:
  49777-18-17
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/25795/dot_25795_DS1.pdf
• File Type:
  [PDF - 400.99 KB]
• Collection(s):
  University Transportation Centers ; US Transportation Collection
• Main Document Checksum:
  urn:sha-512:bc4feba495eb3094fca00304878e30839909d5cfae64ee4e010b578527b0532d840551cb81bd5c41cf6d2fa8318301c539e96d5536dae54eafd2ebf82b755803