Speed-Flow Relations and Cost Functions for Congested Traffic: Theory and Empirical Analysis
AbstractA dynamic 'car-following' extension of the conventional economic model of traffic congestion is presented, which predicts the average cost function for trips in stationary states to be significantly different from the conventional average cost function derived from the speed-flow function. When applied to a homogeneous road, the model reproduces the same stationary state equilibria as the conventional model, including the hypercongested ones. However, stability analysis shows that the latter are dynamically unstable. The average cost function for stationary state traffic coincides with the conventional function for non-hypercongested traffic, but rises vertically at the road's capacity due to queuing, instead of bending backwards. When extending the model to include an upstream road segment, it predicts that such queuing will occur under hypercongested conditions, while the general shape of the average cost function for full trips does not change, implying that hypercongestion will not occur on the downstream road segment. These qualitative predictions are verified empirically using traffic data from a Dutch bottleneck.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 03-064/3.
Date of creation: 06 Aug 2003
Date of revision: 31 Oct 2003
Contact details of provider:
Web page: http://www.tinbergen.nl
Traffic congestion; Road pricing; Car-following theory; Speed-flow relations; Cost functions;
Other versions of this item:
- Verhoef, Erik T., 2005. "Speed-flow relations and cost functions for congested traffic: Theory and empirical analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(7-9), pages 792-812.
- R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - Transportation: Demand, Supply, and Congestion
- R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - Government Pricing and Policy
- D62 - Microeconomics - - Welfare Economics - - - Externalities
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-09-08 (All new papers)
- NEP-GEO-2003-09-08 (Economic Geography)
- NEP-URE-2003-09-08 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Verhoef, Erik Teodoor, 2002. "Inside the queue: hypercongestion and road pricing in a continuous time - continuous place model of traffic congestion," ERSA conference papers ersa02p068, European Regional Science Association.
- Hiroshi Ohta, 2001. "Probing A Traffic Congestion Controversy: Density and Flow Scrutinized," Journal of Regional Science, Wiley Blackwell, vol. 41(4), pages 659-680.
- Hiroshi Ohta, 2001. "Probing a Traffic Congestion Controversy: Response to Comment," Journal of Regional Science, Wiley Blackwell, vol. 41(4), pages 695-699.
- Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
- Small, K.A. & Gomez-Ibanez, J.A., 1996.
95-96-4, California Irvine - School of Social Sciences.
- Mun, Se-il, 1999. "Peak-Load Pricing of a Bottleneck with Traffic Jam," Journal of Urban Economics, Elsevier, vol. 46(3), pages 323-349, November.
- 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.
- Smith, W. Spencer & Hall, Fred L. & Montgomery, Frank O., 1996. "Comparing the speed-flow relationship for motorways with new data from the M6," Transportation Research Part A: Policy and Practice, Elsevier, vol. 30(2), pages 89-101, March.
- Evans, Alan W, 1992. "Road Congestion: The Diagrammatic Analysis: Comment," Journal of Political Economy, University of Chicago Press, vol. 100(1), pages 211-17, February.
- De Meza, David & Gould, J R, 1987. "Free Access versus Private Property in a Resource: Income Distributions Compared," Journal of Political Economy, University of Chicago Press, vol. 95(6), pages 1317-25, December.
- Erik T. Verhoef, 2002. "Inside the Queue," Tinbergen Institute Discussion Papers 02-062/3, Tinbergen Institute, revised 27 May 2003.
- 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.
- Erik T. Verhoef, 2001. "Probing A Traffic Congestion Controversy: A Comment," Journal of Regional Science, Wiley Blackwell, vol. 41(4), pages 681-694.
- Holguin-Veras, Jose & Cetin, Mecit & Xia, Shuwen, 2006. "A comparative analysis of US toll policy," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(10), pages 852-871, December.
- Holgun-Veras, Jos & Cetin, Mecit, 2009. "Optimal tolls for multi-class traffic: Analytical formulations and policy implications," Transportation Research Part A: Policy and Practice, Elsevier, vol. 43(4), pages 445-467, May.
- Holguín-Veras, José, 2011. "Urban delivery industry response to cordon pricing, time-distance pricing, and carrier-receiver policies in competitive markets," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(8), pages 802-824, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Antoine Maartens (+31 626 - 160 892)).
If references are entirely missing, you can add them using this form.