First-Best Downtown Transportation Systems in the Medium Run
This paper investigates first-best downtown transportation systems in the medium run for a broad range of demand densities.Â A downtown transportation system is assumed to include a subway system that operates on its own network and a congestible street system that accommodates both buses and cars.Â A â€œsubwayâ€ is any mass transit mode that operates on an exclusive right of way; a â€œbusâ€ is any mass transit mode for which there congestion interaction with cars1.Â The analysis is â€œmedium runâ€ in the sense that the subway and road networks are fixed, as are their link capacities, and â€œfirst-bestâ€ in the sense that the planner faces only technological constraints. The analysis is â€œdowntownâ€ only in the sense that it focuses on high levels of demand density that for most metropolitan areas occur only downtown. The analysis is static (stationary state), ignoring the intra-day dynamics of travel and congestion.Â
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- Kraus, Marvin, 1991. "Discomfort externalities and marginal cost transit fares," Journal of Urban Economics, Elsevier, vol. 29(2), pages 249-259, March.
- Mohring, Herbert, 1972. "Optimization and Scale Economies in Urban Bus Transportation," American Economic Review, American Economic Association, vol. 62(4), pages 591-604, September.
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