Engel, Eduardo M. R. A.; Galetovic, Alexander; Fischer, … - 2021
. When the franchised road has no close substitute, the government must regulate tolls. Yet when there are many ways of … sufficient conditions for the existence of an equilibrium in pure strategies with strictly positive tolls. Equilibrium congestion …. Franchise holders partially internalize congestion costs when setting tolls, which softens price competition. Second, when …
