Fine-tuning Pricing Algorithms for High-Occupancy//Toll (HOT) Lanes

摘要

Pricing algorithms play a significant role in managing high-occupancy/toll (HOT) facilities.Many studies have been conducted to determine pricing strategies for HOT facilities, but manyof them consider idealized and hypothetical situations to derive solutions, while others requiretoo many resources to be applied in practice. On the other hand, the methods implemented in thefield are heuristic in nature, and involve many parameters to be configured by the tollingagencies. Using the tolling algorithm currently implemented on the 95 Express in South Floridaas an example, this paper presents an optimization procedure to fine-tune the configuration oftolling algorithms for HOT lanes.