Economics of Urban Highway Congestion and Pricing

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Springer Science & Business Media, Oct 31, 1999 - Business & Economics - 238 pages
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Economics of Urban Highway Congestion and Pricing offers the most extensive examination to date of the relationship between congestion tolls and highway capacity in the long run. This study breaks new ground in the economic theory of optimal road capacity by including theoretical contributions, empirical studies, and simulation experiments that all pertain to the general topic reflected in the title. The book is organized into four sections: 1) highway traffic flow; 2) commuter choice of tollways versus freeways; 3) congestion pricing in the short run; and 4) road capacity and pricing in the long run.
In particular, the first section on highway traffic flow examines the chief models and empirical studies of vehicular flow on urban highways. The second section of the book is a theoretical and empirical examination of the choice that commuters make between urban tollways and freeways. The third section is devoted to congestion pricing in the short run, the time period in which the urban highway facilities are taken as given. This section is the most important part of the book from the standpoint of public policy. The fourth and last section of the book considers road capacity and pricing in the long run, with the concluding chapter gathering the authors' main results in one place and making recommendations both for current policy and for future research.
 

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Contents

AN ENGINEERING MODEL OF TRAFFIC FLOW
9
HIGHWAY TRAFFIC FLOW AND THE UNECONOMIC REGION OF PRODUCTION
15
AN EMPIRICAL MODEL OF HIGHWAY TRAFFIC FLOW
23
COMMUTER CHOICE OF TOLLLWAYS VERSUS FREEWAYS
35
THEORY OF ROUTE CHOICE AND THE VALUE OF TIME
37
AN EMPIRICAL STUDY OF THE CHOICE OF TOLLWAY OR FREEWAY
43
CONGESTION PRICING IN THE SHORT RUN
51
CONGESTION PRICING IN THE SHORT RUN THE BASIC MODEL
53
ROAD CAPACITY WITH EFFICIENT TOLLS
135
THE COMPARISON OF OPTIMAL ROAD CAPACITIES NO TOLL VERSUS THE OPTIMAL TOLL
141
THE LONGRUN TWOROAD MODEL OF TRAFFIC CONGESTION
159
OPTIMAL ROAD CAPACITY WITH HYPERCONGESTION IN THE ABSENCE OF TOLLS
171
A MODEL OF DEMAND FOR TRAFFIC DENSITY
181
A LONGRUN TWOROAD MODEL
191
DEMAND UNCERTAINTY OPTIMAL CAPACITY AND CONGESTION TOLLS
205
OPTIMAL CAPACITY FOR A BOTTLENECK AND SUBOPTIMAL CONGESTION TOLLS
219

URBAN HIGHWAY CONGESTION AN ANALYSIS OF SECONDBEST TOLLS
67
MATHEMATICAL FORMULATION OF A MULTIPLEPERIOD CONGESTION PRICING MODEL
85
A SIMULATION STUDY OF PEAK AND OFFPEAK CONGESTION PRICING
97
THE CALIFORNIA SR91 EXAMPLE OF VALUE PRICING
115
ROAD CAPACITY AND PRICING IN THE LONG RUN
133
SUMMARY AND CONCLUSIONS
233
AUTHOR INDEX
237
SUBJECT INDEX
239
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About the author (1999)

John F. McDonald is Senior Associate Dean for Academic Affairs and Professor of Economics at the University of Illinois at Chicago. He is US editor of the journal "Urban Studies" and a member of the editorial boards of the" Journal of Urban Economics" and the journal "Planning Perspectives," He has authored or edited several books, including "The Economics of Highway Congestion and Pricing" (1999), "Sources of Metropolitan Growth" (with Edwin Mills, 1991), and "Economic Analysis of an Urban Housing Market" (1979).

Daniel P. McMillen is Professor of Economics and Director of the Center for Urban Real Estate at the University of Illinois at Chicago, and is also a Research Scholar at the Federal Reserve Bank of Chicago. He is a member of the editorial boards of several urban economics and real estate journals, including the "Journal of Urban Economics" and "Real Estate Economics," and is co-editor, with Richard J. Arnott, of "A Companion to Urban Economics" (Blackwell, 2006).

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