Tuesday, May 10, 2005

Solo in car-pool lane? That's HOT - Yahoo! News

Solo in car-pool lane? That's HOT - Yahoo! News

A very cool use of economics!

"Starting next week, the state plans to do just that. The HOV lanes will become HOT lanes - for high-occupancy toll. Solo drivers on an 11-mile portion of I-394 will be able to drive in "MnPass" lanes formerly reserved for car pools, as long as they're willing to pay electronic tolls that vary dramatically depending on traffic volume.

When traffic is light, the toll might be 25 cents. When traffic's at a standstill, the toll could hit $8. The tolls will vary up to 20 times an hour depending on traffic. Car-poolers, motorcycles and buses can still use the lanes for free.

I-394 will join an 8-mile section of I-15 in San Diego that was the USA's first foray into what traffic planners call "dynamic" toll lanes. The concept is simple: Thousands of drivers who are racing to catch a flight, pick up a child from day care or get to an important meeting on time will pay a premium to escape traffic meltdowns.

The idea is catching on with transportation agencies"

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