“Elastic Multi-User Stochastic Equilibrium Toll Design with Direct Search Meta-Heuristics”

by on January 9, 2014 at 6:56 am in Current Affairs, Economics, Uncategorized | Permalink

Here is the abstract of a sadly under-cited piece (pdf), by Dimitriou and Tsekeris, which is only now receiving some trial implementation attempts:

This study describes the use of a Direct Search (DS) meta-heuristic algorithm for solving the toll design problem, in terms of finding the optimum toll level, in private roads. The problem is formulated as a nonconvex, bilevel nonlinear mathematical program which seeks to maximize toll revenues while taking into account the travel responses of network users, through a multi-class stochastic user equilibrium traffic assignment model with elastic demand. The algorithm is implemented onto a real-life urban sub-network which includes a private highway. The results show the ability of the DS algorithm to relatively quickly find an optimal solution and signify its potential to provide a competitive alternative to the currently used genetic algorithm (GA) approach for solving such types of nonconvex bilevel programs in the sector of road transport services.
You will find some further results here.

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Bill January 9, 2014 at 9:45 am

Big words are not as impressive as clear communication of complex ideas.

ummm January 9, 2014 at 9:56 am

private roads..not sure how many of those there are. It seems like overkill for a small problem. Usually tolls are placed at the endpoints of the bridge/road.

Tyler Cowen January 9, 2014 at 10:14 am

You commentators are in a fog today.

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bdbd January 9, 2014 at 11:19 am

Add an “r” appropriately to the title of the paper and you have something that might be interesting for online networks!

TMC January 9, 2014 at 12:23 pm

I’d like to see one that optimizes user experience rather than tolls collected.
I wonder if gps will have a built in calculator optimizing route based on user’s hourly price for leisure time and operational expenses.

Gabe January 9, 2014 at 2:22 pm

Toll roads are shut down and opened on corrupt political whims…not because some paper proves it is optimal.

mulp January 9, 2014 at 5:24 pm

Voters are corrupt politicians acting on whims, not on their pocket books???

Voters in Indiana and Texas seem to have shut down their governor’s proposals to sell to or establish private toll roads, which only foreigners ignorant of corrupt American voters will invest in. These foreign investors are certainly learning the hard way that voters do not support private toll roads.

mulp January 9, 2014 at 5:54 pm

The problem for private toll roads is predicting the costs of building it given a road that does not require taking by eminent domain is not going to be used, and the more it appears the project profits someone other than the landowners losing land or suffering from its traffic and the users in the community.

To lower costs, toll roads generally provide only inconvenient access to the local community, limiting the access points to places that businesses can develop. Open road tolling can increase access to a toll road, but still each access point is expensive in terms of land taken.

To maximize traffic, toll roads take steps to prevent bypassing the toll road by their access point placement. For example, if a big part of the cost of the toll road involves a river crossing, but a free local bridge exists, the toll road access will not allow accessing the river fronts to prevent toll jumping. On the other hand, if the crossing is set to “free” and the toll is high for the access to the river front, then the trips to the river front business district will be too high because the toll will charge for crossing the river when the river is never crossed.

Ultimately, the access points will be built where businesses want them, and the individuals who have their property rights taken for private profit gain nothing from toll roads, so they have every reason in the world to drive up the cost of building the toll road, and to force its design to be suboptimal leading to reduced revenues. Its each to figure out how to drive up costs and reduce revenue – force all possible toll revenue schemes to be less at revenue maximization than the debt service.

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geciktirici sprey January 11, 2014 at 4:36 am

they have every reason in the world to drive up the cost of building the toll road, and to force its design to be suboptimal leading to reduced revenues. Its each to figure out how to drive up costs and reduce revenue – force all possible toll revenue schemes to be less at revenue maximization than the debt service. – See more at: http://marginalrevolution.com/marginalrevolution/2014/01/elastic-multi-user-stochastic-equilibrium-toll-design-with-direct-search-meta-heuristics.html#comment-158012400

kırışıklık krem January 11, 2014 at 4:37 am

they have every reason in the world to drive up the cost of building the toll road, and to force its design to be suboptimal leading to reduced revenues. Its each to figure out how to drive up costs and reduce revenue – force all possible toll revenue schemes to be less at revenue maximization than the debt service. sperm

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they have every reason in the world to drive up the cost of building the toll road, and to force its design to be suboptimal leading to reduced revenues. Its each to figure out how to drive up costs and reduce revenue – force all possible toll revenue schemes to be less at revenue maximization than the debt service.

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