Comparative Analysis of Economic Instruments in Intersection Operation: A User-Based Perspective

TL;DR

This paper compares various economic instruments used in intersection management within connected environments, evaluating their advantages, disadvantages, and user acceptance based on ease of use, cost savings, and social equity.

Contribution

It provides a comparative analysis of economic instruments in intersection operation from a user perspective, highlighting their benefits and challenges for deployment.

Findings

Credit and free-market schemes benefit users.

Second-price auctions favor high VOT vehicles.

Credit schemes are difficult for travelers to learn and operate.

Abstract

Focusing on different economic instruments implemented in intersection operations under a connected environment, this paper analyzes their advantages and disadvantages from the travelers' perspective. Travelers' concerns revolve around whether a new instrument is easy to learn and operate, whether it can save time or money, and whether it can reduce the rich-poor gap. After a comparative analysis, we found that both credit and free-market schemes can benefit users. Second-price auctions can only benefit high VOT vehicles. From the perspective of technology deployment and adoption, a credit scheme is not easy to learn and operate for travelers.