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Financing Capacity in the Bottleneck Model

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Author Info

  • Arnott Richard
  • Kraus Marvin

Abstract

It is well known that, for a congestible facility with a constant long-run average cost, the revenue from the unconstrained optimal toll (set so that each individual faces marginal (social) cost of a use) covers the cost of optimal capacity. This paper investigates under what circumstances the first-best pricing and investment rules apply when time variation of the toll is constrained, and when users differ in unobservable characteristics so that the same toll must be applied to heterogeneous users. Both the bottleneck model and the traditional flow congestion model are considered.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Urban Economics.

Volume (Year): 38 (1995)
Issue (Month): 3 (November)
Pages: 272-290

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Handle: RePEc:eee:juecon:v:38:y:1995:i:3:p:272-290

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Web page: http://www.elsevier.com/locate/inca/622905

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Cited by:
  1. Lindsey, Robin, 2009. "Cost recovery from congestion tolls with random capacity and demand," Journal of Urban Economics, Elsevier, vol. 66(1), pages 16-24, July.
  2. Richard Arnott & Marvin Kraus, 1997. "When are Anonymous Congestion Charges Consistent with Marginal Cost Pricing?," Boston College Working Papers in Economics 354., Boston College Department of Economics.
  3. Yang, Hai & Meng, Qiang, 2000. "Highway pricing and capacity choice in a road network under a build-operate-transfer scheme," Transportation Research Part A: Policy and Practice, Elsevier, vol. 34(3), pages 207-222, April.
  4. De Borger, Bruno & Dunkerley, Fay & Proost, Stef, 2009. "Capacity cost structure, welfare and cost recovery: Are transport infrastructures with high fixed costs a handicap?," Transportation Research Part B: Methodological, Elsevier, vol. 43(5), pages 506-521, June.
  5. Bichsel, Robert, 2001. "Should Road Users Pay the Full Cost of Road Provision?," Journal of Urban Economics, Elsevier, vol. 50(2), pages 367-383, September.
  6. Ian W. H. Parry & Margaret Walls & Winston Harrington, 2007. "Automobile Externalities and Policies," Journal of Economic Literature, American Economic Association, vol. 45(2), pages 373-399, June.
  7. Yang, Hai & Meng, Qiang, 2002. "A note on "highway pricing and capacity choice in a road network under a build-operate-transfer scheme"," Transportation Research Part A: Policy and Practice, Elsevier, vol. 36(7), pages 659-663, August.
  8. Jeffrey K. MacKie-Mason & Hal R. Varian, 1994. "Pricing the Internet," Computational Economics 9401002, EconWPA.
  9. Vincent van den Berg & Erik T. Verhoef, 2011. "Congesting Pricing in a Road and Rail Network with Heterogeneous Values of Time and Schedule Delay," Tinbergen Institute Discussion Papers 11-059/3, Tinbergen Institute, revised 24 May 2012.
  10. Richard Arnott & Marvin Kraus, 1995. "Self-Financing of Congestible Facilities in a Growing Economy," Boston College Working Papers in Economics 304., Boston College Department of Economics.

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