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Title:

Design of Tradable Credit Schemes over Multiple Time Periods

Accession Number:

01518993

Record Type:

Component

Availability:

Transportation Research Board Business Office

500 Fifth Street, NW
Washington, DC 20001 United States

Abstract:

Credit-based congestion pricing is a recently identified strategy to mitigate congestion by creating artificial markets for mobility credits. This study develops a new framework to capture the market behavior effects of implementing tradable credit schemes over time. Two policies are considered in this context. In the first policy, a central authority applies a positive/negative interest rate to unused credits based on the goals to increase/decrease travel demand and credit consumption in a time period. Then, travelers can use the prorated unused credits in subsequent periods. For a given credit distribution, the credit price in each period is shown to depend on the prorated credit price in the future periods. In the second policy, the travelers pay a transfer fee to exercise unused credits in future time periods. In addition, they have the right to keep the unused credits up to the end of the time horizon of interest, and exercise them based on their travel needs at any time during that horizon. At the end of the horizon, a central authority is assumed purchase unused credits from any period at the predetermined reservation price. Experimental analysis suggests that the uniqueness of credit price does not depend solely on the path flow pattern in current period but also on the consumption of transferred credits in future periods. Sensitivity analysis is performed on the various parameters to study the market behavior under the aforementioned frameworks.

Supplemental Notes:

This paper was sponsored by TRB committee ABE20 (2) Behavioral Economics Call for Papers.

Monograph Accession #:

01503729

Report/Paper Numbers:

14-4339

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Miralinaghi, Mohammad
Peeta, Srinivas

Pagination:

21p

Publication Date:

2014

Conference:

Transportation Research Board 93rd Annual Meeting

Location: Washington DC
Date: 2014-1-12 to 2014-1-16
Sponsors: Transportation Research Board

Media Type:

Digital/other

Features:

Figures; References; Tables

Subject Areas:

Finance; Highways; Planning and Forecasting; I10: Economics and Administration; I72: Traffic and Transport Planning

Source Data:

Transportation Research Board Annual Meeting 2014 Paper #14-4339

Files:

TRIS, TRB, ATRI

Created Date:

Jan 27 2014 3:30PM