In most dynamic traffic congestion models, congestion tolls must vary continuously over time to achieve the full optimum. This is also the case in Vickrey's (1969) 'bottleneck model'. To date, the closest approximations of this ideal in practice have so-called 'step tolls', in which the toll...

For several decades growth of traffic volumes has outstripped investments in road infrastructure. The result has been a relentless increase in traffic congestion. This paper reviews the economic principles behind congestion pricing in static and dynamic settings, which derive from the benefits...

Transportation researchers have long struggled to find satisfactory ways of describing and analysing traffic congestion, as evident from the large number of often competing approaches and models that have been developed. This paper aims to provide a review of the literature on this topic. The...

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 their potential to alleviate traffic congestion, shrinking public funds for road...