Travel congestion is considered as the most important negative externality of urban agglomerations. Despite the recommendations of urban and transport researchers, congestion tolls are rarely applied, mainly because these policies are not generally accepted by a broad public. Recently,...

Travel congestion is considered as the most important negative externality of urban agglomerations. Despite the recommendations of urban and transport researchers, congestion tolls are rarely applied, mainly because these policies are not generally accepted by a broad public. Recently,...

Traffic congestion contributes to longer travel times and increased travel time variability. We account for the dynamic nature of travellers' choices, by deriving a closed-form solution for the costs of travel time variability. The resulting travel delay cost function is linear in the mean...