There has been wide interest in private supply of roads as a solution to traffic congestion. We study its efficiency under demand uncertainty: we solve for equilibrium and optimum as benchmarks, and evaluate the efficiency of possible regulatory policies for private road operators. We obtain...

This paper proposes an analytical framework for scheduling decisions of road travelers that takes into account probability weighting using rank dependent utility theory. The fundamental difference with the standard scheduling model based on expected utility is that the probabilities of arrivals...

Unreliable travel times cause substantial costs to travelers. Nevertheless, they are not taken into account in many cost-benefit-analyses (CBA), or only in very rough ways. This paper aims at providing simple rules on how variability can be predicted, based on travel time data from Dutch...

We study road supply by competing firms between a single origin and destination. In previous studies, firms simultaneously set their tolls and capacities while taking the actions of the others as given in a Nash fashion. Then, under some widely used technical assumptions, firms set a...

We study the efficiency of private supply of roads under demand uncertainty and evaluate various regulatory policies. Due to demand uncertainty, capacity is decided before demand is known, but tolls can be adjusted after demand is known. Policy implications can differ considerably from those...

We study different mixes of private and public supply of roads in a network with bottleneck congestion and heterogeneous users. In our setting, there are two parallel links for one origin and destination pair and two groups of travellers, where the group with higher value of time also has higher...

Hypercongestion is the situation where a certain traffic flow occurs at a combination of low speed and high density, and a more favorable combination of these could produce the same flow. The macroscopic fundamental diagram (MFD) allows for such hypercongestion, but does not explicitly describe...

This paper studies road safety and accident externalities when insurance companies have market power, and can influence road users' driving behaviour via insurance premiums. We obtain both welfare and profit maximizing marginal conditions for first- and second-best insurance premiums for...

This paper proposes an analytical framework for scheduling decisions of road travelers that takes into account probability weighting using rank dependent utility theory. The fundamental difference with the standard scheduling model based on expected utility is that the probabilities of arrivals...

Unreliable travel times cause substantial costs to travelers. Nevertheless, they are not taken into account in many cost-benefit-analyses (CBA), or only in very rough ways. This paper aims at providing simple rules on how variability can be predicted, based on travel time data from Dutch...