01371007

Component

https://doi.org/10.3141/2297-21

http://scholar.google.com...nova&publication_year=2012

An agent-based model of roadway privatization is developed to evaluate pricing and capacity decisions for private toll roads when they compete with existing public roads. The model is demonstrated on a hypothetical grid and beltway structure network. Several simulation scenarios are presented to illustrate the effects of regulation policy packages of privatized roads and the influence of public and private network hierarchy on network growth patterns. From the simulation results of the developed agent-based model, several insights are provided on the impacts of ownership and network structures on the socioeconomic performance of transportation systems. Both the analytical findings and the application results on test networks are in favor of introducing private toll roads to current public road systems characterized by growing congestion, insufficient public funding, and inefficient pricing practices. When properly regulated, a privatized transportation network can achieve net social benefits close to the theoretical optimum and distribute a high percentage of welfare gains to travelers. Although the public sector is still able to expand roadway capacity gradually over time, additional revenue sources from privatization help to increase network capacity and to bring it closer to the optimal levels on public roads.

01470980

12-4557

English

pp 172–180

2012

Transportation Research Record: Journal of the Transportation Research Board

9780309262989

Print

Figures; References

Economic analysis; Networks; Policy; Privatization; Public private partnerships; Regulation; Socioeconomic factors; Toll roads; Topology

Agent based models

Economics; Finance; Highways; Policy; I10: Economics and Administration

TRIS, TRB, ATRI

Feb 8 2012 5:25PM

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