A STRUCTURAL MODEL OF PEAK-PERIOD CONGESTION: A TRAFFIC BOTTLENECK WITH ELASTIC DEMAND. IN: RECENT DEVELOPMENTS IN TRANSPORT ECONOMICS

The purpose of this paper is to consider the modeling of road congestion subject to peak-load demand. It argues that a properly specified model should be structural. The standard model contains ambiguities and is poorly specified. This model should be derived explicitly treating the congestion technology and consumers' behavioral decisions. The paper provides a detailed analysis of the structural model by William Vickrey.

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