Congestion in the bathtub
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Congestion in the bathtub. / Fosgerau, Mogens.
In: Economics of Transportation, Vol. 4, No. 4, 01.12.2015, p. 241-255.Research output: Contribution to journal › Journal article › Research › peer-review
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TY - JOUR
T1 - Congestion in the bathtub
AU - Fosgerau, Mogens
PY - 2015/12/1
Y1 - 2015/12/1
N2 - This paper presents a model of urban traffic congestion that allows for hypercongestion. Hypercongestion has fundamental importance for the costs of congestion and the effect of policies such as road pricing, transit provision and traffic management, treated in the paper. In the simplest version of the model, the unregulated Nash equilibrium is also the social optimum among a wide range of potential outcomes and any reasonable road pricing scheme will be welfare decreasing. Large welfare gains can be achieved through road pricing when there is hypercongestion and travelers are heterogeneous.
AB - This paper presents a model of urban traffic congestion that allows for hypercongestion. Hypercongestion has fundamental importance for the costs of congestion and the effect of policies such as road pricing, transit provision and traffic management, treated in the paper. In the simplest version of the model, the unregulated Nash equilibrium is also the social optimum among a wide range of potential outcomes and any reasonable road pricing scheme will be welfare decreasing. Large welfare gains can be achieved through road pricing when there is hypercongestion and travelers are heterogeneous.
KW - Bathtub
KW - Bottleneck
KW - Congestion
KW - Dynamic
KW - Traffic
KW - Urban
UR - http://www.scopus.com/inward/record.url?scp=84941253519&partnerID=8YFLogxK
U2 - 10.1016/j.ecotra.2015.08.001
DO - 10.1016/j.ecotra.2015.08.001
M3 - Journal article
AN - SCOPUS:84941253519
VL - 4
SP - 241
EP - 255
JO - Economics of Transportation
JF - Economics of Transportation
SN - 2212-0122
IS - 4
ER -
ID: 181871482