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Examining Potential Travel Time Savings Benefits Due to Toll Rates That Vary by Lane

DOI: 10.4236/jtts.2014.43024, PP. 267-276

Keywords: Differential Toll Rates, Travel Time Savings, Value of Travel Time

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Abstract:

By assigning different toll rates to different lanes during peak traffic hours, the demand for each lane of a road can be optimized. Lanes with lower travel times charge higher toll rates which are paid by those drivers who have higher values of travel time (VTT) and who want to avoid congestion in the other lanes. Conversely, travel time for those drivers with lower values of travel times will increase as they select the lower priced and slower lanes. This research examines toll rates that minimize the total value of travel time spent on the road under such a scenario. The optimum toll rates are dependent on the total road volume and distribution of VTT. The results show that total saved value of travel time can easily reach 11% of the total value of time spent traveling on the lanes when compared to a toll road with a uniform toll rate for all lanes. These savings vary based on many factors including the number of travelers on urgent trips.

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