Like most others, traffic economists also treat a vertical line for the capacity of a road. When traffic flow approaches the vertical line, there will be congestion, while the line itself is a gridlock. This paper re-runs the traffic mathematics thoroughly, to derive some surprisingly new...

This timely book deals with the problem of pricing passenger and freight transportation within Europe. The contributors argue that current legislation affecting pricing and regulation is increasingly less successful in dealing with market failures and externalities such as congestion, air...