Travel Demand Forecasting by a Theory of Home Production and Policy Evaluation

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This study formulated a general equilibrium model of the road economics which synthesizes the theories of home production and the optimal toll and then examined the recent issues on travel demand forecasting in Japan. A change in toll or investment affects the route selection of users through income redistribution between the low and high income groups. It was clarified that not only the income difference in each group but also that between the groups have significant effects on maximization of social welfare with respect to policy instruments.