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In this article, we study the optimal design of High Occupancy Toll (HOT)lanes. In our setup, the traffic authority determines the road capacityallocation between HOT lanes and ordinary lanes, as well as the toll pricecharged for travelers who use the HOT lanes but do not meet the high-occupancyeligibility criteria. We build a game-theoretic model to analyze the decisionsmade by travelers with heterogeneous values of time and carpool disutilities,who choose between paying or forming carpools to take the HOT lanes, or takingthe ordinary lanes. Travelers' payoffs depend on the congestion cost of thelane that they take, the payment and the carpool disutilities. We provide acomplete characterization of travelers' equilibrium strategies and resultingtravel times for any capacity allocation and toll price. We also calibrate ourmodel on the California Interstate highway 880 and compute the optimal capacityallocation and toll design.

Capacity Allocation and Pricing of High Occupancy Toll Lane Systems with Heterogeneous Travelers