Evaluating the role of private investment in infrastructure assets.

Details

• Creators:
  Rouhani, Omid M. ; Gao, H. Oliver ; Geddes, R. Richard
• Corporate Creators:
  Cornell University
• Corporate Contributors:
  United States. Federal Highway Administration
• Subject/TRT Terms:
  Alternatives Analysis Costs Financing Infrastructure Public Private Partnerships Sustainable Development Tolls Urban Areas
• Resource Type:
  Tech Report
• Geographical Coverage:
  United States
• Corporate Publisher:
  University Transportation Research Center
• Abstract:
  Public Private Partnership (P3) projects are likely to fundamentally impact entire
  
  transportation systems. However, most studies are focused on system modeling rather than
  
  policy analysis, and few studies have examined the impacts of P3s on real-size
  
  transportation networks. Policy guidance for devising and administering P3 contracts to
  
  improve transportation system performance while maintaining profitability is lacking. Using
  
  the transportation network of Fresno, a middle-sized city in California as an example, this
  
  study considers alternative P3 approaches for profit maximization and system cost
  
  minimization at full urban transportation network scales. Based on system modeling results,
  
  we offer the following recommendations for policy makers to design and promote
  
  successful P3 projects in urban environments: (1) to promote a profitable and a socially
  
  beneficial system, toll rates should be set between profit-maximizing and system-optimal
  
  rates; (2) even though tolls (i.e., higher travel costs) on a few roads helps reduce travel
  
  demand they may, counter-intuitively, lead to higher total travel cost for the transportation
  
  system as a whole; (3) lower limit(s), in addition to upper limit(s), for tolls may be required
  
  to enforce system-optimal tolling and avoid undercutting; (4) a variable tolling scheme (i.e.,
  
  temporally and spatially varying tolls) significantly reduces congestion and increases profits
  
  relative to flat tolls; and (5) public officials should provide a comprehensive plan regarding
  
  past, current, and future P3 projects along with detailed system-wide impact analysis of
  
  project implementation in order to promote a more sustainable transportation system.
  
  
• Format:
  PDF
• Funding:
  49198-19-26
• Collection(s):
  University Transportation Centers US Transportation Collection
• Main Document Checksum:
  urn:sha256:de20e434a1c292254018c7147d66e7fb8e6db8ed96543e0847ba68d51f2fffe5
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/29704/dot_29704_DS1.pdf
• File Type:
  [PDF - 2.25 MB ]