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The Stability of Downtown Parking and Traffic Congestion

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Author Info
Richard J. Arnott ()
Eren Inci ()

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Abstract

In classical traffic flow theory, there are two velocities associated with a given level of traffic flow. Following Vickrey, economists have termed travel at the higher speed congested travel and at the lower speed hypercongested travel. Since the publication of Walters. classic paper, there has been an on-going debate concerning whether a steady-state hypercongested equilibrium can be stable. For a particular structural model of downtown traffic flow and parking, this paper demonstrates that a steady-state hypercongested equilibrium can be stable. Some other sensible models of traffic congestion conclude that steady-state hypercongested travel cannot be stable, and that queues develop to ration the demand in steady states. Thus, we interpret our result to imply that, when steady-state demand is so high that it cannot be rationed through congested travel, the trip price increase necessary to ration the demand may be generated either through the formation of steady-state queues or through hypercongested travel, and that which mechanism occurs depends on details of the traffic system.

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Publisher Info
Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number CESifo Working Paper No. 2525.

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Date of creation: 2009
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Handle: RePEc:ces:ceswps:_2525

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Related research
Keywords: traffic congestion; cruising for parking; on-street parking; hypercongestion;

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Find related papers by JEL classification:
L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
R41 - Urban, Rural, and Regional Economics - - Transportation Systems - - - Transportation: Demand, Supply, and Congestion

References listed on IDEAS
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  1. Arnott, Richard, 2006. "Spatial competition between parking garages and downtown parking policy," Transport Policy, Elsevier, vol. 13(6), pages 458-469, November. [Downloadable!] (restricted)
    Other versions:
  2. Richard Arnott & John Rowse, 2007. "Downtown Parking in Auto City," Boston College Working Papers in Economics 665, Boston College Department of Economics. [Downloadable!]
    Other versions:
  3. Lo, Hong K. & Szeto, W.Y., 2005. "Road pricing modeling for hyper-congestion," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(7-9), pages 705-722. [Downloadable!] (restricted)
  4. Chu Xuehao, 1995. "Endogenous Trip Scheduling: The Henderson Approach Reformulated and Compared with the Vickrey Approach," Journal of Urban Economics, Elsevier, vol. 37(3), pages 324-343, May. [Downloadable!] (restricted)
  5. Daganzo, Carlos F., 2002. "A behavioral theory of multi-lane traffic flow. Part II: Merges and the onset of congestion," Transportation Research Part B: Methodological, Elsevier, vol. 36(2), pages 159-169, February. [Downloadable!] (restricted)
  6. Arnott, Richard & Rowse, John, 1999. "Modeling Parking," Journal of Urban Economics, Elsevier, vol. 45(1), pages 97-124, January. [Downloadable!] (restricted)
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  7. C. Robin Lindsey & Erik T. Verhoef, 2000. "Traffic Congestion and Congestion Pricing," Tinbergen Institute Discussion Papers 00-101/3, Tinbergen Institute. [Downloadable!]
  8. Henderson, J. Vernon, 1981. "The economics of staggered work hours," Journal of Urban Economics, Elsevier, vol. 9(3), pages 349-364, May. [Downloadable!] (restricted)
  9. Verhoef, Erik T., 2001. "An Integrated Dynamic Model of Road Traffic Congestion Based on Simple Car-Following Theory: Exploring Hypercongestion," Journal of Urban Economics, Elsevier, vol. 49(3), pages 505-542, May. [Downloadable!] (restricted)
  10. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May. [Downloadable!] (restricted)
  11. Small, K.A. & Chu, X., 1997. "Hypercongestion," Papers 97-98-12, California Irvine - School of Social Sciences.
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  12. Daganzo, C. F. & Cassidy, M. J. & Bertini, R. L., 1999. "Possible explanations of phase transitions in highway traffic," Transportation Research Part A: Policy and Practice, Elsevier, vol. 33(5), pages 365-379, June. [Downloadable!] (restricted)
  13. Arnott, Richard & Inci, Eren, 2006. "An integrated model of downtown parking and traffic congestion," Journal of Urban Economics, Elsevier, vol. 60(3), pages 418-442, November. [Downloadable!] (restricted)
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  14. Small, K.A. & Gomez-Ibanez, J.A., 1996. "Urban Transportation," Papers 95-96-4, California Irvine - School of Social Sciences.
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  15. Verhoef, Erik T., 1999. "Time, speeds, flows and densities in static models of road traffic congestion and congestion pricing," Regional Science and Urban Economics, Elsevier, vol. 29(3), pages 341-369, May. [Downloadable!] (restricted)
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  16. Erik T. Verhoef, 2002. "Inside the Queue," Tinbergen Institute Discussion Papers 02-062/3, Tinbergen Institute, revised 27 May 2003. [Downloadable!]
  17. Verhoef, Erik T., 2003. "Inside the queue:: hypercongestion and road pricing in a continuous time-continuous place model of traffic congestion," Journal of Urban Economics, Elsevier, vol. 54(3), pages 531-565, November. [Downloadable!] (restricted)
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  18. Dewees, Donald N, 1979. "Estimating the Time Costs of Highway Congestion," Econometrica, Econometric Society, vol. 47(6), pages 1499-1512, November. [Downloadable!] (restricted)
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This page was last updated on 2009-11-3.

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