Small, Kenneth; Ng, Chen Feng - Department of Economics, University of California-Irvine - 2013
its utilization, to include free-flow speed as another dimension of capital. This has practical importance because one can … view free-flow speed as a continuous proxy for road type (e.g. freeway, arterial, urban street). We derive conditions for … optimal investment in capacity and free-flow speed, and analyze the optimal balance between the two. We then estimate cost …