The standard economic model for analyzing tarffic congestion, due to A.A. Walters, incorporates a relationship between speed and traffic flow. Empirical measurements indicate a region, known as hypercongestion, in which speed increase with flow. We argue that this relationship is unsuitable as a supply curve for equilibrium analysis because hyperongestion occurs as a response to transient demand fluctuations.
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Paper provided by California Irvine - School of Social Sciences in its series Papers with number
97-98-12.
Find related papers by JEL classification: R41 - Urban, Rural, and Regional Economics - - Transportation Systems - - - Transportation: Demand, Supply, and Congestion H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis
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