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.
Highlights
Fiscal constraint on transportation infrastructure expenditures has many agencies considering managed lanes (MLs) to optimize the use of those lanes and provide travelers with high values of travel time (VTT) an uncongested alternative
The travel time on the moderate lanes is similar to the travel time with a uniform toll rate
Because of the high VTT for travelers in expensive lanes and low VTT for travelers in free lanes, there is a net benefit in using the differential toll rates strategy
Summary
Fiscal constraint on transportation infrastructure expenditures has many agencies considering managed lanes (MLs) to optimize the use of those lanes and provide travelers with high values of travel time (VTT) an uncongested alternative. This research examines the travel time savings derived from offering different toll rates on different lanes of the same road. This allows those drivers with high VTT to select, and pay for, the lanes with lower travel times. This concept will be tested on the Veterans Expressway in the Tampa Bay area in 2016 (http://www.tollroadsnews.com/node/6250).
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
