Part of the problem appears to be a phenomenon documented on Minnesota’s MnPASS system, after which Florida’s I-95 Express plan is modeled. Engineers found that, up to a point, drivers are actually drawn to higher tolls.
“And that’s surprising,” said David Levinson a professor of civil engineering at University of Minnesota and a study author. “Our expectation was that when we raised the price, that fewer people would consume the good … which is what you typically find.”
He says you don’t normally think about driving on high-occupancy toll lanes as a prestige good, where people perceive more value as the price goes up.
On the other hand, Levinson says, maybe there is a real value. “So if you’re a ‘type-A’ person you might get some sort of psychological benefit from passing 20 other cars on your way to work. Even if by passing 20 cars you’ve only saved yourself a minute or two, you’re ahead in the race, so as a positional good you think it’s better.”
And for the record, express lanes may or may not be “better” as the price goes up. Dynamic tolling changes to ensure free-flowing traffic in the express lanes — it has nothing to do with what’s going on in the not-so-express lanes.
The paper is here: HOT or Not: Driver Elasticity to Price on the MnPASS HOT Lanes.