American Economic Review Vol. 83 No. 1 1993
A Structural Model of Peak-Period Congestion: A Traffic Bottleneck with Elastic Demand
Abstract
This paper considers the modeling of road congestion subject to peak-load demand. The standard model contains ambiguities and is poorly specified. These problems can be eliminated by working with a structural model that explicitly treats the congestion technology and drivers' behavioral decisions. The paper provides a detailed analysis of a particular structural model--William Vickrey's model of bottleneck congestion in the morning rush-hour auto commute, extended to treat elastic (i.e., price-sensitive) demand--and examines some economic implications of the structural approach.
- Volume
- 83
- Issue
- 1
- Pages
- 161-179
- Sources
- bibtex:phds-export.bib