General Equilibrium Model of Optimal Transportation Supply

概要

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This paper, is concerned with general equilibrium model of optimal supply of transportation facilities and optimal pricing to transport services. Strotz's work (1965) that studied optimal road supply and congestion toll on a single one-way road is developed to the more general case including competitive transport services. Here we consider two competitive roads, say free general road and toll-charged expressway, and public transport. Both optimum allocation of resources and optimal pricing to these three routes are discussed by use of general-equilibrium-theoretic approach. The conceptual framework used in the work is mostly the same as in the Strotz's model, but partially different. Major improvements are as follows: (1) time budget is introduced into the set of constraints of household utility-maximizing behaviour, (2) consumers (=trip makers) are faced to three competitive routes, so trip costs that were ignored in the Strotz's model are evaluated and fuel tax is also introduced into the model as a new financial source for transportation investments. Main results involve the so-called marginal cost pricing principle, e.g. the expressway's toll must be equated to the balance of the two marginal rate of substitution between trips and resource input to two roads. As for the public transport fare this principle also holds. Finally, a process for approaching general equilibrium solutions is illustrated.
福山大学の論文