Integration of congestion pricing and intertemporal preferences rate integration in social welfare function

Guzman, Luis Angel and Di Ciommo, Floridea and Hoz Sánchez, Daniel de la (2013). Integration of congestion pricing and intertemporal preferences rate integration in social welfare function. In: "Transportation Research Board (TRB) 92nd annual meeting", 13/01/2013 - 17/01/2013, Washington, D.C. (USA). ISBN 9780309286848. https://doi.org/10.3141/2346-01.

Description

Title: Integration of congestion pricing and intertemporal preferences rate integration in social welfare function
Author/s:
  • Guzman, Luis Angel
  • Di Ciommo, Floridea
  • Hoz Sánchez, Daniel de la
Item Type: Presentation at Congress or Conference (Article)
Event Title: Transportation Research Board (TRB) 92nd annual meeting
Event Dates: 13/01/2013 - 17/01/2013
Event Location: Washington, D.C. (USA)
Title of Book: Policy 2013: Finance, Economics, and Equity Considerations
Título de Revista/Publicación: Transportation Research Record: Journal of the Transportation Research Board
Date: 2013
ISBN: 9780309286848
ISSN: 0361-1981
Volume: 2
Subjects:
Faculty: E.T.S.I. Caminos, Canales y Puertos (UPM)
Department: Ingeniería Civil: Transportes [hasta 2014]
Creative Commons Licenses: Recognition - No derivative works - Non commercial

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Abstract

Many researchers have used theoretical or empirical measures to assess social benefits in transport policy implementation. However, few have measured social benefits by using discount rates, including the intertemporal preference rate of users, the private investment discount rate, and the intertemporal preference rate of the government. In general, the social discount rate used is the same for all social actors. This paper aims to assess a new method by integrating different types of discount rates belonging to different social actors to measure the real benefits of each actor in the short term, medium term, and long term. A dynamic simulation is provided by a strategic land use and transport interaction model. The method was tested by optimizing a cordon toll scheme in Madrid, Spain. Socioeconomic efficiency and environmental criteria were considered. On the basis of the modified social welfare function, the effects on the measure of social benefits were estimated and compared with the classical welfare function measures. The results show that the use of more suitable discount rates for each social actor had an effect on the selection and definition of optimal strategy of congestion pricing. The usefulness of the measure of congestion toll declines more quickly over time. This result could be the key to understanding the relationship between transport system policies and the distribution of social actors? benefits in a metropolitan context.

More information

Item ID: 26689
DC Identifier: http://oa.upm.es/26689/
OAI Identifier: oai:oa.upm.es:26689
DOI: 10.3141/2346-01
Official URL: http://trrjournalonline.trb.org/doi/10.3141/2346-01
Deposited by: Memoria Investigacion
Deposited on: 29 May 2014 09:10
Last Modified: 18 Jan 2017 09:44
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