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
Patil, S., Burris, M., Shaw, D. and Concas, S. (2011) Variation in the Value of Travel Time Savings and Its Impact on the Benefits of Managed Lanes. Transportation Planning and Technology, 34, 547-567. http://dx.doi.org/10.1080/03081060.2011.600068
Sullivan, E.C. and Burris, M. W. (2006) Benefit-Cost Analysis of Variable Pricing Projects: SR-91 Express Lanes. Journal of Transportation Engineering, 132, 191-198. http://dx.doi.org/10.1061/(ASCE)0733-947X(2006)132:3(191)
DeCorla-Souza, P. (2003) Evaluation of Toll Options Using Quick-Response Analysis Tools Case Study of the Capital Beltway. Transportation Research Record: Journal of the Transportation Research Board, 1839, 65-73. http://dx.doi.org/10.3141/1839-06