A Stochastic Model of Congestion Caused by Speed Differences
AbstractThe authors study interaction on a two-lane road between the trips of two types of drivers who differ by their desired speeds. The difference in desired speeds causes congestion, because slow vehicles force fast vehicles to reduce their speed. Results for this type of congestion with respect to tolling are very different from those of the classic Pigou-Knight model, where the marginal external costs are an increasing function of the number of road users. In our model we find the opposite result: the marginal external costs of slow vehicles are a decreasing function of the number of slow vehicles. This leads to rather different policy recommendations. © The London School of Economics and the University of Bath 2002
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Bibliographic InfoArticle provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy.
Volume (Year): 36 (2002)
Issue (Month): 3 (September)
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Web page: http://www.bath.ac.uk/e-journals/jtep
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- Andre De Palma & Moez Kilani & Robin Lindsey, 2006.
"The Economics of Truck Toll Lanes,"
ERSA conference papers
ersa06p896, European Regional Science Association.
- Cameron Hepburn, 2006. "Regulation by Prices, Quantities, or Both: A Review of Instrument Choice," Oxford Review of Economic Policy, Oxford University Press, vol. 22(2), pages 226-247, Summer.
- de Palma, André & Kilani, Moez & Lindsey, Robin, 2008. "The merits of separating cars and trucks," Journal of Urban Economics, Elsevier, vol. 64(2), pages 340-361, September.
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