We consider a multi-service transportation system in which passengers are heterogeneous along two dimensions, namely ideal departure time and value of time, leading to both horizontal and vertical differentiation. We investigate the behavior of passengers, and assess how service pricing and...

Budget balance cannot be achieved if rates depend upon individual agents' own consumption only, which we refer to as individualistic pricing. Thus, interdependence between agents should be accounted for, for example by taking total consumption into account explicitly

This paper surveys what can be learned from recent advances in the incomplete contract literature to understand how public goods are or should be provided. The paper starts with a section on the full information case that presents and discusses the classical Samuelson condition on the optimal...