This paper is the first in a series of papers which examine the economics of congestable facilities with peak-load demand, provides a thorough analysis of the simplest bottleneck model: A fixed number of individuals, one per car, must travel from home to work. Between home and work is a...

This paper models congestable facilities subject to peak-load demand. It argues that a properly-specified model should explicitly treat the congestion technology and consumer's time-of-use decision. The standard model can be interpreted as a reduced form of such a model if the peak period is...

This paper develops a dynamic model of peak period traffic congestion that considers a limited number of bottlenecks. The model predicts the temporal distribution of traffic volumes with an elastic demand model. The choice of route and mode are dependent on travel times and costs. The choice of...

This paper has two objectives. First, we present the logit model of discrete consumer choice and apply it to an oligopoly model of product differentiation. Second, we reconsider the question of monopolistic competition and optimal product diversity. The model suggests that when the market...

Smeed (1967) derived conditions under which it is possible for a driver to depart later and arrive earlier at a destination. In this note we replicate Smeed's argument and modify one of the postulates that under realistic traffic assumptions this phenomenon cannot occur.

A model of peak period traffic congestion analyzes the effects of capacity constraints. The model predicts the temporal distribution of traffic volumes when the demand is elastic. In response to changes in traffic conditions travellers can switch to a different mode, alternate route. The delays...

State and Local Government services are enjoyed by two groups, residents and non-residents: similarly, taxes are borne by both groups. This paper addresses the question: if state and local governments act so as to maximize their residents' welfare, and if they cannot distinguish between...

One Strand of the literature of the employment contract focuses on the role of the contract in providing for the efficient sharing of risk between capitalists and workers. One way capitalists can shift risk to workers is to provide part of workers" renumeration in the form of an unfunded,...

This comment discusses terminological issues related to the analysis of housing. It treats the definition of housing quality, and stresses the importance of distinguishing between supply and reduced form elasticities, between partial and total elasticities, and between stock and flow...