Peak period tolls: Precepts and prospects

This article presents the economic rationale for road pricing and provides some scale on the magnitude of peak period tolls that might be justified. It discusses the impacts of such tolls on congestion, air quality and economic development and suggests a long term strategy towards areawide implementation of peak period pricing. It discusses current trends which are increasing the likelihood for implementation of congestion pricing and toll roads in the future. In particular, it discusses some aspects of the 1991 Intermodal Surface Transportation Efficiency Act (ISTEA) which will eliminate some of the current restraints on congestion pricing and toll highways.Abbreviations ETC Electronic toll collection - FHWA Federal Highway Administration - HOV High occupancy vehicle - ISTEA Intermodal Surface Transportation Efficiency Act - LOS Level of service - TCM Transportation control measure - V/C Volume-to-capacity ratio - VMT Vehicle mile(s) of travel - vphpl Vehicles per hour per lane