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...

This paper investigates differentiated design standards as a source of capacity additions that are more affordable and have smaller aesthetic and environmental impacts than modern expressways. We consider several tradeoffs, including narrow versus wide lanes and shoulders on an expressway of a...

We seek to better understand the scheduling of activities in time through a dynamic model of commuting with congestion, in which workers care solely about leisure and consumption. Implicit preferences for the timing of the commute form endogenously due to concave preferences and temporal...

This paper assesses the costs and effectiveness of several energy policies for light-duty motor vehicles in the United States, using the National Energy Modeling System (NEMS). The policies addressed are higher fuel taxes, tighter vehicle efficiency standards, and financial subsidies and...

The bottleneck model of congestion with endogenous scheduling has become a standard tool of transportation economics. It provides surprising insights about the time pattern of congestion, optimal pricing, and many distinct inefficiencies of unpriced equilibria including wrong departure order...

Previous research suggests that the elasticity of light-duty motor vehicle travel with respect to fuel cost, known as the "rebound effect," is modest in size and probably declined in magnitude between the 1960s and the late 1990s. However, turmoil in energy markets during the early 2000s has...