Policymakers could implement available, well-tested technologies to improve the efficiency of highway pricing, investment, and operations, which would improve travel speeds, reliability, and safety and reduce highway expenditures. Unfortunately, political and bureaucratic impediments to...

After decades of study, the value of travel time remains incompletely understood and ripe for further theoretical and empirical investigation. Research has revealed many regularities and connections between willingness to pay for time savings and other economic factors including time of day...

We extend the traditional road investment model, with its focus on capacity and congestion as measures of capital and its utilization, to include free-flow speed as another dimension of capital. This has practical importance because one can view free-flow speed as a continuous proxy for road...