A.A. Walters derived a traffic flow function, and advocated toll to cure congestion. He wanted to save lives and monies, time is money, in congestion. NYC and Hong Kong have been practicing his policy for years, but surviving drivers are still tortured by congestion. Walters’ intention is...

For several decades growth of traffic volumes has outstrippedinvestments inroad infrastructure. The result has been a relentless increase intrafficcongestion. This paper reviews the economic principles behindcongestionpricing in static and dynamic settings, which derive from thebenefits...

This paper studies the regulation of an airline duopoly on a congested airport. Regulation should then address two market failures: uninternalized congestion, and overpricing due to market power. We find that first-best charges are differentiated over airlines if asymmetric, and completely drive...

In recent years there has been a surge of interest in private toll roads as an alternative to public free-access road infrastructure. Private toll roads have gained favour for a variety of reasons, including theirpotential to alleviate traffic congestion, shrinking public funds for road...

This paper studies some of the properties and fundamentals of static models of road traffic congestion that have triggered much debate in the literature. The first part of the paper focuses in particular on the difficulties arising with the backward-bending cost curve in the context of...

This study examines hub-carrier scheduling and hub-airport congestion pricing using a simple hub-spoke network model incorporating both schedule delays and congestion delays. We find that in the short-middle run, where aircraft size is given exogenously, hub-airport congestion tolls are not...

Walters applied a demand and supply model to collect toll for easing congestion. This paper proves that his model is a lame duck, one without a supply function. It then works out a wholesome traffic and congestion model, to offer some alternative methods to solve congestion. This paper also...