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The Economics of Traffic Congestion

Edited by Erik Verhoef, VU University Amsterdam
This essential two-volume collection contains the most influential articles written over the past eight decades that contribute to an understanding of the economics of traffic congestion. The first volume explores the classic contributions on congestion and road pricing and includes papers in dynamic models and second-best congestion pricing. The second volume analyses ownership arrangements such as private roads, investment and financing, urban land use, social acceptability and distributional aspects of road pricing.
Two volume set
Extent: 1,184 pp
Hardback Price: $623.00 Web: $560.70
Publication Date: 2010
ISBN: 978 1 84720 351 9
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  • Economics and Finance
  • Environmental Economics
  • Transport
  • Environment
  • Environmental Economics
  • Transport
  • Urban and Regional Studies
  • Transport
This essential two-volume collection contains the most influential articles written over the past eight decades that contribute to an understanding of the economics of traffic congestion. The first volume explores the classic contributions on congestion and road pricing and includes papers in dynamic models and second-best congestion pricing. The second volume analyses ownership arrangements such as private roads, investment and financing, urban land use, social acceptability and distributional aspects of road pricing.

Erik Verhoef has written an insightful introduction which provides a clear overview of a problem which is of major importance in both developed and developing countries.
61 articles, dating from 1920 to 2005
Contributors include: R. Arnott, A. de Palma, F.H. Knight, R. Layard, H. Mohring, D.M. Newbery, P. Nijkamp, A.C. Pigou, K.A. Small, R.M.Solow, W.S. Vickrey
Contents:

Volume I

Acknowledgements

Introduction Erik T. Verhoef

PART I CONGESTION AND ROAD PRICING: CLASSIC CONTRIBUTIONS
1. A.C. Pigou (1920), ‘Divergences between Marginal Trade Net Product and Marginal Individual Net Product’
2. F. H. Knight (1924), ‘Some Fallacies in the Interpretation of Social Cost’
3. John Glen Wardrop (1952), ‘Some Theoretical Aspects of Road Traffic Research’
4. Martin Beckmann, C.B. McGuire and Christopher B. Winsten (1956), ‘Equilibrium’ and ‘Efficiency’
5. M.J. Lighthill and G.B. Whitham (1955), ‘On Kinematic Waves. II: A Theory of Traffic Flow on Long Crowded Roads’
6. Paul I. Richards (1956), ‘Shock Waves on the Highway’
7. A.A. Walters (1961), ‘The Theory and Measurement of Private and Social Cost of Highway Congestion’
8. William S. Vickrey (1963), ‘Pricing in Urban and Suburban Transport’
9. Dietrich Braess, Anna Nagurney and Tina Wakolbinger (2005), ‘On a Paradox of Traffic Planning’ [Translated from the German: D. Braess (1968), ‘Über ein Paradoxon aus der Verkehrsplanung’]

PART II DYNAMIC MODELLING
10. William S. Vickrey (1969), ‘Congestion Theory and Transport Investment’
11. Kenneth A. Small (1982), ‘The Scheduling of Consumer Activities: Work Trips’
12. Richard Arnott, André de Palma and Robin Lindsey (1993), ‘A Structural Model of Peak-Period Congestion: A Traffic Bottleneck with Elastic Demand’
13. Carson E. Agnew (1976), ‘Dynamic Modeling and Control of Congestion-Prone Systems’
14. G.F. Newell (1988), ‘Traffic Flow for the Morning Commute’
15. Xuehao Chu (1995), ‘Endogenous Trip Scheduling: The Henderson Approach Reformulated and Compared with the Vickrey Approach’

PART III SECOND-BEST CONGESTION PRICING
16. H. Lévy-Lambert (1968), ‘Pricing of Variable-Quality Services – Application to Road Tolls’ [Translated from the French: ‘Tarification des Services à Qualité Variable: Application aux Péages de Circulation’]
17. Maurice Marchand (1968), ‘A Note on Optimal Tolls in an Imperfect Environment’
18. Erik Verhoef, Peter Nijkamp and Piet Rietveld (1996), ‘Second-Best Congestion Pricing: The Case of an Untolled Alternative’
19. Ralph M. Braid (1996), ‘Peak-Load Pricing of a Transportation Route with an Unpriced Substitute’
20. B. De Borger, S. Proost and K. Van Dender (2005), ‘Congestion and Tax Competition in a Parallel Network’
21. David M. Levinson (2000), ‘Revenue Choice on a Serial Network’
22. Erik T. Verhoef (2002), ‘Second-best Congestion Pricing in General Networks. Heuristic Algorithms for Finding Second-Best Optimal Toll Levels and Toll Points’
23. Agachai Sumalee, Tony May and Simon Shepherd (2005), ‘Comparison of Judgmental and Optimal Road Pricing Cordons’
24. Se-il Mun, Ko-ji Konishi and Kazuhiro Yoshikawa (2003), ‘Optimal Cordon Pricing’
25. Richard Arnott, André de Palma and Robin Lindsey (1990), ‘Economics of a Bottleneck’
26. Richard Arnott and Marvin Kraus (1998), ‘When Are Anonymous Congestion Charges Consistent with Marginal Cost Pricing?’
27. Inge Mayeres and Stef Proost (2001), ‘Marginal Tax Reform, Externalities and Income Distribution’
28. Ian W.H. Parry and Antonio Bento (2000), ‘Revenue Recycling and the Welfare Effects of Road Pricing’
29. André De Palma and Robin Lindsey (1998), ‘Information and Usage of Congestible Facilities under Different Pricing Regimes’
30. Amihai Glazer and Esko Niskanen (1992), ‘Parking Fees and Congestion’
31. Richard Arnott and John Rowse (1999), ‘Modeling Parking’
32. Kenneth A. Small and José A. Gómez-Ibáñez (1998), ‘Road Pricing for Congestion Management: The Transition from Theory to Policy’


Volume II

Acknowledgements

An introduction to both volumes by the editor appears in Volume I

PART I PRIVATE ROADS
1. Noel M. Edelson (1971), ‘Congestion Tolls under Monopoly’
2. David E. Mills (1981), ‘Ownership Arrangements and Congestion-Prone Facilities’
3. Philip A. Viton (1995), ‘Private Roads’
4. Louie Nan Liu and John F. McDonald (1998), ‘Efficient Congestion Tolls in the Presence of Unpriced Congestion: A Peak and Off-Peak Simulation Model’
5. André de Palma and Robin Lindsey (2000), ‘Private Toll Roads: Competition under Various Ownership Regimes’
6. Eduardo Engel, Ronald Fischer and Alexander Galetovic (1997), ‘Highway Franchising: Pitfalls and Opportunities’

PART II INVESTMENT AND FINANCING
7. Herbert Mohring and Mitchell Harwitz (1962), ‘Highway Taxation and the Magniture of Highway Benefits’, from ‘Benefits and the Tax System’
8. Theodore E. Keeler and Kenneth A. Small (1977), ‘Optimal Peak-Load Pricing, Investment, and Service Levels on Urban Expressways’
9. Marvin Kraus (1981), ‘Scale Economies Analysis for Urban Highway Networks’
10. David M. Newbery (1989), ‘Cost Recovery from Optimally Designed Roads’
11. William C. Wheaton (1978), ‘Price-induced Distortions in Urban Highway Investment’
12. John D. Wilson (1983), ‘Optimal Road Capacity in the Presence of Unpriced Congestion’
13. Edmond L. d’Ouville and John F. McDonald (1990), ‘Optimal Road Capacity with a Suboptimal Congestion Toll’
14. J. Berechman and D. Pines (1991), ‘Financing Road Capacity and Returns to Scale under Marginal Cost Pricing’
15. Kenneth A. Small (1999), ‘Economies of Scale and Self-financing Rules with Non-competitive Factor Markets’
16. Richard Arnott and Marvin Kraus (1998), ‘Self-financing of Congestible Facilities in a Growing Economy’
17. Hai Yang and Qiang Meng (2002), ‘A Note on “Highway Pricing and Capacity Choice in a Road Network under a Build-Operate-Transfer Scheme”’

PART III CONGESTION, ROAD PRICING AND URBAN LAND USE
18. Robert M. Solow and William S. Vickrey (1971), ‘Land Use in a Long Narrow City’
19. Robert M. Solow (1973), ‘Congestion Cost and the Use of Land for Streets’
20. Yitzhak Oron, David Pines and Eytan Sheshinski (1973), ‘Optimum vs. Equilibrium Land Use Pattern and Congestion Toll’
21. Richard J. Arnott and James G. MacKinnon (1978), ‘Market and Shadow Land Rents with Congestion’
22. Alex Anas and Rong Xu (1999), ‘Congestion, Land Use, and Job Dispersion: A General Equilibrium Model’

PART IV SOCIAL ACCCEPTABILITY AND DISTRIBUTIONAL ASPECTS OF ROAD PRICING
23. Christopher D. Foster (1974), ‘The Regressiveness of Road Pricing’
24. Harry W. Richardson (1974), ‘A Note on the Distributional Effects of Road Pricing’
25. C.D. Foster (1975), ‘A Note on the Distributional Effects of Road Pricing: A Comment’
26. Harry W. Richardson (1975), ‘A Rejoinder’
27. Richard Layard (1977), ‘The Distributional Effects of Congestion Taxes’
28. Richard Arnott, André de Palma and Robin Lindsey (1994), ‘The Welfare Effects of Congestion Tolls with Heterogeneous Commuters’
29. P.B. Goodwin (1989), ‘The “Rule of Three”: A Possible Solution to the Political Problem of Competing Objectives for Road Pricing’
30. Kenneth A. Small (1992), ‘Using the Revenues from Congestion Pricing’

Index