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Transportation Dissertation
| Title | Establishing of Establishing of the Model of Discrimination of Toll of Peak and Off-peak Periods and the Model of Finance under Electronic Toll Collection (ETC) of Freeway |
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| Year | 2006 |
| Summary | Ting -Shnn Lai, 2006.06 Hence, this study will take the DPPOP as core of the research for the freeway toll, and explor the setting lever of freeway toll . from the position government that cooperate with the private sector for the freeway ETC construction and operation while focusing to achieve the self-liquidating goal of financial. Therefore, the research individually built up the demand model of freeway, total variable cost function, the benefit function, and the future forecast of the relative demand, the cost and the revenue. Then we also considered the influence on variable cost by the committed service charge for the privatization of ETC. Furthermore, the demand transferring in the time and space of highway after the regime of DPPOP,are combined in the above model The point of the research is the “financial breakeven” and set up the financial balance model during the DPPOP. Moreover, we will discuss the difference of the reasonable freeway tolls set up between the target social welfare and the achieving financial self-liquidating goal of the highway. The empirical results show that the basic toll will be lower while implementing the DPPOP . However, under the same discounted rate and payback period the multiple coefficients is increasing, and the trend of basic rate is getting lower . Namely, while the strategy of DPPOP is adopted in the toll collection of freeway, then the period of pay-back will be shorten to balance the revenue and expenditure. This result also match the expectation of lower toll under the objective of maximization of social welfare. It means that the government implement this strategy will generate the positive benefit for the policy and the society. In addition, we worked out the basic toll with maximum social welfare in order to balance the revenue and expenditure. The result shows that the basic toll is pretty low if we estimated the balanced rate with the maximum social welfare. However, if Peak & Off-peak’s coefficient is high and the discount rate is low, the basic toll can still achieve balance the revenue and expenditure in Equity Pay-Back Period. Besides, the result of this study shows that while discrimination pricing on peak and Off-peak coefficient is 2.5 time, and the Equity Pay-Back Period is 25 years in a good financial conditions, and the discount rate is 4% which is the lower rate in the market. Consequently, the basic toll NT$0.1682 will be generated which can be taken as the most optimal basic toll of the balance of financing and the maximum social welfare. Under the regime of reasonable adjusted toll, while the toll is adjusted every five years according with the price’ index, the estimated result shows that under the same pay-back period and discount rate, and the financial conditions, the social welfare of the adjusted toll will have more 3.2% than those of the constant toll. This indicates the regime of reasonable adjusted toll poss the positive economic meaning. |
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