Equilibrium at a Bottleneck when Long-Run and Short-Run Scheduling Preferences diverge
AbstractWe consider equilibrium and optimum use of a Vickrey road bottleneck, distinguishing between long-run and short-run scheduling preferences in an otherwise stylized scheduling model. The preference structure reflects that there is a distinction between the (exogenous) 'long-run preferred arrival time', which would be relevant if consumers were unconstrained in the scheduling of their activities, versus the 'short-run preferred arrival time', which is the result of an adaptation of travel routines in the face of constraints caused by, in particular, time-varying congestion levels. We characterize the unpriced equilibrium, the social optimum as well as second-best situations where the availability of the pricing instruments is restricted. All of them imply a dispersed distribution of short-run preferred arrival times. The extent of dispersion in the unpriced equilibrium, however, is higher than socially optimal.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 13-028/VIII.
Date of creation: 14 Feb 2013
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bottleneck model; scheduling decisions; travel routines; long-run vs. short-run;
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-02 (All new papers)
- NEP-TRE-2013-03-02 (Transport Economics)
- NEP-TUR-2013-03-02 (Tourism Economics)
- NEP-URE-2013-03-02 (Urban & Real Estate Economics)
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- van Ommeren, Jos & Fosgerau, Mogens, 2008.
"Workers' marginal costs of commuting,"
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