A comprehensive assessment of modern toll road financing and operation.
Written in 2003; 3,500 words; 9 sources; MLA; $ 98.95
Paper Summary:
This paper discusses the pros and cons of the Build-Operate-Transfer and the Further Concession-Handover options for both the promoter and the principal, followed by a summary of the research in the conclusion. Scholarly resources are used throughout.
From the Paper:
"One particular instrument of transport regulation that seems to gain more political and perhaps also gradual public support, is road pricing, much to the satisfaction of many transportation economists (Button & Verhoef 1998). There have been both intellectual and practical developments since Arthru Pigou first advanced the idea of road pricing in 1920. The basic concept is very straightforward: apply the price mechanism in the same way as it applies elsewhere. In other words, when there is high demand prices should be high to deter excessive use. In the final analysis, the key question becomes one of defining the appropriate price in what is often a complex set of economic and technical circumstances."
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