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:
  • Public private partnerships
  • Infrastructure
  • Sustainable development
  • Urban areas
  • Costs
  • Tolls
  • Alternatives analysis
  • Financing
• 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.
  More +
• Format:
  PDF
• Funding:
  49198-19-26
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/29704/dot_29704_DS1.pdf
• File Type:
  [PDF - 2.25 MB]
• Collection(s):
  University Transportation Centers ; US Transportation Collection
• Main Document Checksum:
  urn:sha256:de20e434a1c292254018c7147d66e7fb8e6db8ed96543e0847ba68d51f2fffe5