Journal
JOURNAL OF URBAN ECONOMICS
Volume 101, Issue -, Pages 106-122Publisher
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.jue.2017.06.003
Keywords
Rail transit; Crowding; Pricing; Optimal capacity
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Funding
- Social Sciences and Humanities Research Council of Canada [435-2014-2050]
- French National Agency of Research ANR (Project Elitisme) [ANR-14-CE22-0006]
- ENS Cachan, France
- CES, KU Leuven, Belgium
- Agence Nationale de la Recherche (ANR) [ANR-14-CE22-0006] Funding Source: Agence Nationale de la Recherche (ANR)
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We model trip-timing decisions of rail transit users who trade off crowding costs and disutility from traveling early or late. With no fare or a uniform fare, ridership is too concentrated on timely trains. Marginal-cost-pricing calls for time-dependent fares that smooth train loads and generate more revenue than an optimal uniform fare. The welfare gains from time-dependent fares are unlikely to increase as ridership grows. However, imposing time-dependent fares raises the benefits of expanding capacity by either adding trains or increasing train capacity. We illustrate these results by calibrating the model to the Paris RER A transit system. (C) 2017 Elsevier Inc. All rights reserved.
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