amount of congestion and travel time. We find that this result does not hold if capacity and toll setting are separate stages …

paper studies toll competition among private roads with congestion. The paper derives two main results. First, we find … sufficient conditions for the existence of an equilibrium in pure strategies with strictly positive tolls. Equilibrium congestion …-of-pocket cost paid by a user, it increases the congestion cost thereby reducing the drivers' willingness to pay for using the road …

paper studies toll competition among private roads with congestion. The paper derives two main results. First, we find … sufficient conditions for the existence of an equilibrium in pure strategies with strictly positive tolls. Equilibrium congestion …-of-pocket cost paid by a user, it increases the congestion cost thereby reducing the drivers' willingness to pay for using the road …