Abstract
This study provides the overall social welfare implications of key road-capacity expansion options considering free capacity, high occupancy vehicle – HOV, high occupancy toll – HOT, and toll lanes. The broad welfare impacts are estimated in terms of transport users, residents, the regional economy, and private-sector’s welfare. The study uses Dallas County and Tarrant County, Texas, as a case-study region. The study result shows that the HOT option outperforms all other options. It results in an overall increase in social welfare in net present value of $6.7 billion. Apart from that, estimation results do not clearly suggest a preferred option, but instead, depend on the criterion used. The best option in each criterion is: “Do nothing” for investment costs, “HOT” for regional economic impact, “All-tolled” for corridor travel time, “HOT” for network-wide travel time, “Free capacity” for users’ travel costs, “All-tolled” for energy and environmental costs, and “All-tolled” for revenue. The proposed social welfare analysis integrates these conflicting criteria by offering a unified index, and provides the best road-investment option for society.
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