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Optimal cordon pricing

delete2003-07-01
delete94
PRE
AI
S
Se‐il Mun *
K
Ko-ji Konishi
K
Kenichi Yoshikawa
DOI：10.1016/S0094-1190(03)00022-6delete
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Abstract

Abstract

En 中文
This paper presents a simple spatial model of traffic congestion for a monocentric city to investigate the effects of cordon pricing on trip-making and congestion level in each location. Optimal cordon pricing is obtained as a combination of the cordon location (i.e., distance of the cordon from the CBD) and the amount of toll charged there that maximizes the total social surplus in a city. Under optimal cordon pricing, trips originating from locations inside the cordon are under-priced, those just outside the cordon are over-priced and those near the urban fringe are under-priced. Numerical simulations using the parameter values based on Japanese data suggest that cordon pricing attains an economic welfare level very close to the first-best optimum. (C) 2003 Elsevier Inc. All rights reserved.
Keywords:
CONGESTION EXTERNALITIES
SYSTEMS

Journal

Journal of Urban Economics cover
Journal of Urban Economics
IF:
4.8
Papers:
2.2K
Citations:
7.3K

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No organization information available