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Information and Usage of Congestible Facilities Under Free Access

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Author Info
Richard Arnott

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Abstract

We investigate the effect of information about congestion on participation and time-of-use decisions in a free-access delay system subject to predictable and unpredictable fluctuations in capacity and demand intensity. Expected welfare is greater with perfect than with zero information, while optimal design capacity is greater if and only if demand elasticity is less than one. Imperfect information can reduce welfare by inducting concentration in the arrival time of users at the facility. This suggests that route guidance systems for automobile travel and other public information dissemination schemes must be designed and implemented with care.

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File URL: http://www.kellogg.northwestern.edu/research/math/papers/974.pdf
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Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 974.

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Date of creation: Jan 1992
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Handle: RePEc:nwu:cmsems:974

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Web page: http://www.kellogg.northwestern.edu/research/math/
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  1. Panzar, John C, 1979. "Equilibrium and Welfare in Unregulated Airline Markets," American Economic Review, American Economic Association, vol. 69(2), pages 92-95, May. [Downloadable!] (restricted)
  2. Hirshleifer, Jack, 1971. "The Private and Social Value of Information and the Reward to Inventive Activity," American Economic Review, American Economic Association, vol. 61(4), pages 561-74, September. [Downloadable!] (restricted)
  3. R. Arnott & A. de Palma & R. Lindsey, 1986. "Departure Time and Route Choice," Working Papers 658, Queen's University, Department of Economics.
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  6. De Vany, Arthur S & Saving, Thomas R, 1977. "Product Quality, Uncertainty, and Regulation: The Trucking Industry," American Economic Review, American Economic Association, vol. 67(4), pages 583-94, September. [Downloadable!] (restricted)
  7. John C. Panzar, 1976. "A Neoclassical Approach to Peak Load Pricing," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 521-530, Autumn. [Downloadable!] (restricted)
  8. Esther Gal-Or, 1988. "The Advantages of Imprecise Information," RAND Journal of Economics, The RAND Corporation, vol. 19(2), pages 266-275, Summer. [Downloadable!] (restricted)
  9. McFadden, Daniel, 1974. "The measurement of urban travel demand," Journal of Public Economics, Elsevier, vol. 3(4), pages 303-328, November. [Downloadable!] (restricted)
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  11. Henderson, J. Vernon, 1981. "The economics of staggered work hours," Journal of Urban Economics, Elsevier, vol. 9(3), pages 349-364, May. [Downloadable!] (restricted)
  12. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1990. "Economics of a bottleneck," Journal of Urban Economics, Elsevier, vol. 27(1), pages 111-130, January. [Downloadable!] (restricted)
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  13. Wilson, Robert B, 1989. "Efficient and Competitive Rationing," Econometrica, Econometric Society, vol. 57(1), pages 1-40, January. [Downloadable!] (restricted)
  14. Small, Kenneth A., 1983. "The incidence of congestion tolls on urban highways," Journal of Urban Economics, Elsevier, vol. 13(1), pages 90-111, January. [Downloadable!] (restricted)
  15. De Vany, Arthur & Saving, Thomas R, 1980. "Competition and Highway Pricing for Stochastic Traffic," Journal of Business, University of Chicago Press, vol. 53(1), pages 45-60, January. [Downloadable!] (restricted)
  16. Small, Kenneth A, 1982. "The Scheduling of Consumer Activities: Work Trips," American Economic Review, American Economic Association, vol. 72(3), pages 467-79, June. [Downloadable!] (restricted)
  17. Cannon, Colin M., 1987. "Peak-pricing and self-rationing of gas," Energy Economics, Elsevier, vol. 9(2), pages 99-103, April. [Downloadable!] (restricted)
  18. Brown, Gardner, Jr & Johnson, M Bruce, 1969. "Public Utility Pricing and Output under Risk," American Economic Review, American Economic Association, vol. 59(1), pages 119-28, March. [Downloadable!] (restricted)
  19. Newbery, David M, 1990. "Pricing and Congestion: Economic Principles Relevant to Pricing Roads," Oxford Review of Economic Policy, Oxford University Press, vol. 6(2), pages 22-38, Summer.
  20. Stephen Coate & John C. Panzer, 1988. "Public Utility Pricing and Capacity Choice Under Risk: A Rational Expectations Approach," Discussion Papers 780, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
    Other versions:
  21. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September. [Downloadable!] (restricted)
  22. Camerer, Colin & Loewenstein, George & Weber, Martin, 1989. "The Curse of Knowledge in Economic Settings: An Experimental Analysis," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1232-54, October. [Downloadable!] (restricted)
  23. Kraus, Marvin, 1982. "Highway pricing and capacity choice under uncertain demand," Journal of Urban Economics, Elsevier, vol. 12(1), pages 122-128, July. [Downloadable!] (restricted)
  24. Haltiwanger, John & Waldman, Michael, 1985. "Rational Expectations and the Limits of Rationality: An Analysis of Heterogeneity," American Economic Review, American Economic Association, vol. 75(3), pages 326-40, June. [Downloadable!] (restricted)
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  25. Moshe Ben-Akiva & Andre de Palma & Pavlos Kanaroglou, 1984. "Dynamic Model of Peak Period Traffic Congestion with Elastic Arrival Rates," Working Papers 588, Queen's University, Department of Economics.
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