Credit-Based Congestion Pricing: Travel, Land Value, and Welfare Impacts

Abstract

The possible transportation and property value impacts of a new congestion management policy called credit-based congestion pricing (CBCP) are explored. With destination, mode, and departure-time choice models sensitive to changes in travel times and costs, household travel demands were simulated to appreciate the transportation effects of a CBCP policy for Austin, Texas. Changes in home values as a result of CBCP also were simulated. To identify households and neighborhoods that would benefit most and least from such policies, the trip-based welfare impacts of such a policy were compared for three scenarios: full network pricing, major highway pricing only, and no pricing. Results corroborate previous results and hypotheses about the potential of a CBCP policy to alleviate congestion and generate benefits across the region and traveler types.

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