For a quarter century, a top priority in transportation economic theory has been to develop models of rush-hour traffic dynamics that incorporate traffic jams (hypercongestion). The difficulty has been that "proper" models result in mathematical intractabilty, while none of the proposed...

In downtown areas, what proportion of curbside should be allocated to parking? In contrast to most previous work on the economics of parking, this paper focuses on optimal curbside parking capacity in both first-best (where pricing is efficient) and second-best (where pricing is inefficient)...

Under tenancy rent control, rents are regulated within a tenancy but not between tenancies. This paper investigates the effects of tenancy rent control on housing quality and maintenance. Since the discounted revenue received over a fixed-duration tenancy depends only on the starting rent,...