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The rationale for congestion charges is that by internalising the marginal external congestion cost, they restore efficiency in the transport market. In the canonical model underlying this view, congestion is a static phenomenon, users are taken to be homogenous, there is no travel time risk,...
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Engineering studies demonstrate that traffic in dense downtown areas obeys a stable functional relationship between average speed and density, including a region of ‘hypercongestion’, where flow decreases with density. This situation can be described as queuing behind a bottleneck whose...
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Standard textbook analyses of road pricing tend to assume that users are homogenous, that there is no travel time risk, and to have a view of congestion as static. The simple analysis also ignores that real pricing schemes are only rough approximations to ideal systems and that the general...
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This paper studies the interaction between dynamic traffic congestion and urban spatial equilibrium, using a model that is a straight unification of the Vickrey (1969) bottleneck congestion model and the Alonso (1964) monocentric city model. In a monocentric city with a bottleneck at the...
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