Information effects in transport with stochastic capacity and uncertainty costs.

In this paper the impact of information provision to travellers using a model based on a stochastic equilibrium concept is analyses. A new analytical framework is proposed by including a specific term related to the costs of travel-time uncertainty, per se, into the generalised cost function. Different driver information models are analysed to asses the efficiency-improving features of driver information systems compared with the (optimal) first-best policy of road pricing. The results reveal that the potential of driver information systems as an efficiency-improving policy instrument are underestimated if costs of uncertainty are ignored. (A)