Abstract
ABSTRACTThis paper examines how capacity and toll choices of the Build–Operate–Transfer mode affect the benefit distribution among private sector, road users and public under the framework of cumulative prospect theory. In the proposed network equilibrium model, we divide all road users into several classes differentiated by their valuation of travel time, and let the class-specific travel demand be endogenous. Our numerical results show that the benefit distribution is indeed influenced by the travellers' risk preference parameters significantly. Thus, administrators should carefully consider the travellers' risk attitude and their heterogeneity before determining whether or not to employ the Build–Operate–Transfer mode.
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