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The Stability Of Downtown Parking And Traffic Congestion

  • Richard Arnott

    ()

    (Department of Economics, University of California Riverside)

  • Eren Inci

    ()

    (Sabanci University)

In classical traffic flow theory, there are two velocities associated with a given level of traffic flow. Following Vickrey, economists have termed travel at the higher speed congested travel and at the lower speed hypercongested travel. Since the publication of Waltersí classic paper (1961, Econometrica 29, 676- 699), there has been an on-going debate concerning whether a steady-state hypercongested equilibrium can be stable. For a particular structural model of downtown traffic flow and parking, this paper demonstrates that a steady- state hypercongested equilibrium can be stable. Some other sensible models of traffic congestion conclude that steady-state hypercongested travel cannot be stable, and that queues develop to ration the demand in steady states. Thus, we interpret our result to imply that, when steady-state demand is so high that it cannot be rationed through congested travel, the trip price increase necessary to ration the demand may be generated either through the forma- tion of steady-state queues or through hypercongested travel, and that which mechanism occurs depends on details of the traffic system.

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File URL: http://economics.ucr.edu/papers/papers08/08-13.pdf
File Function: First version, 2008
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Paper provided by University of California at Riverside, Department of Economics in its series Working Papers with number 200813.

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Length: 39 pages
Date of creation: Nov 2008
Date of revision: Nov 2008
Handle: RePEc:ucr:wpaper:200813
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Web page: http://economics.ucr.edu

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  1. Richard Arnott & Eren Inci, 2005. "An Integrated Model of Downtown Parking and Traffic Congestion," Boston College Working Papers in Economics 608, Boston College Department of Economics.
  2. repec:dgr:uvatin:20020062 is not listed on IDEAS
  3. Kenneth A. Small & Xuehao Chu, 2003. "Hypercongestion," Journal of Transport Economics and Policy, London School of Economics and University of Bath, vol. 37(3), pages 319-352, September.
  4. 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.
  5. Arnott, Richard & Rowse, John, 2009. "Downtown parking in auto city," Regional Science and Urban Economics, Elsevier, vol. 39(1), pages 1-14, January.
  6. Dewees, Donald N, 1979. "Estimating the Time Costs of Highway Congestion," Econometrica, Econometric Society, vol. 47(6), pages 1499-1512, November.
  7. Daganzo, C. F. & Cassidy, M. J. & Bertini, R. L., 1999. "Possible explanations of phase transitions in highway traffic," Transportation Research Part A: Policy and Practice, Elsevier, vol. 33(5), pages 365-379, June.
  8. Daganzo, Carlos F., 2002. "A behavioral theory of multi-lane traffic flow. Part II: Merges and the onset of congestion," Transportation Research Part B: Methodological, Elsevier, vol. 36(2), pages 159-169, February.
  9. 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.
  10. Small, K.A. & Gomez-Ibanez, J.A., 1996. "Urban Transportation," Papers 95-96-4, California Irvine - School of Social Sciences.
  11. Lo, Hong K. & Szeto, W.Y., 2005. "Road pricing modeling for hyper-congestion," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(7-9), pages 705-722.
  12. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-60, May.
  13. Arnott, Richard & Rowse, John, 1999. "Modeling Parking," Journal of Urban Economics, Elsevier, vol. 45(1), pages 97-124, January.
  14. Henderson, J. Vernon, 1981. "The economics of staggered work hours," Journal of Urban Economics, Elsevier, vol. 9(3), pages 349-364, May.
  15. Erik Teodoor Verhoef, 1998. "Time, speeds, flows and densities in static models of road traffic congestion and congestion pricing," ERSA conference papers ersa98p156, European Regional Science Association.
  16. 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.
  17. 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.
  18. repec:dgr:uvatin:20000101 is not listed on IDEAS
  19. Geroliminis, Nikolas & Daganzo, Carlos F., 2008. "Existence of urban-scale macroscopic fundamental diagrams: Some experimental findings," Transportation Research Part B: Methodological, Elsevier, vol. 42(9), pages 759-770, November.
  20. Richard Arnott, 2005. "Spatial Competition between Parking Garages and Downtown Parking Policy," Boston College Working Papers in Economics 627, Boston College Department of Economics.
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