Congestion in the bathtub
2015 (English)In: Economics of Transportation, ISSN 2212-0122, E-ISSN 2212-0130, Vol. 4, no 4, 241-255 p.Article in journal (Refereed) Published
This paper presents a model of urban traffic congestion that allows for hypercongestion. Hypercongestion has fundamental importance for the costs of congestion and the effect of policies such as road pricing, transit provision and traffic management, treated in the paper. In the simplest version of the model, the unregulated Nash equilibrium is also the social optimum among a wide range of potential outcomes and any reasonable road pricing scheme will be welfare decreasing. Large welfare gains can be achieved through road pricing when there is hypercongestion and travelers are heterogeneous.
Place, publisher, year, edition, pages
2015. Vol. 4, no 4, 241-255 p.
Transport Systems and Logistics
IdentifiersURN: urn:nbn:se:kth:diva-174634DOI: 10.1016/j.ecotra.2015.08.001ISI: 000366331400005ScopusID: 2-s2.0-84941253519OAI: oai:DiVA.org:kth-174634DiVA: diva2:875964
QC 201512022015-12-022015-10-072016-01-15Bibliographically approved