In classical traffic flow theory, there are two velocities associated with a given level of traffic flow. Following Vickrey, economists have termed travel at the higher speed congested travel and at the lower speed hypercongested travel. Since the publication of Walters. classic paper, there has...

State and Local Government services are enjoyed by two groups, residents and non-residents: similarly, taxes are borne by both groups. This paper addresses the question: if state and local governments act so as to maximize their residents' welfare, and if they cannot distinguish between...

One Strand of the literature of the employment contract focuses on the role of the contract in providing for the efficient sharing of risk between capitalists and workers. One way capitalists can shift risk to workers is to provide part of workers" renumeration in the form of an unfunded,...

This comment discusses terminological issues related to the analysis of housing. It treats the definition of housing quality, and stresses the importance of distinguishing between supply and reduced form elasticities, between partial and total elasticities, and between stock and flow...

A Companion to Urban Economics -- Contents -- List of Figures -- List of Tables -- Notes on Contributors -- Preface -- PART I URBANIZATION -- 1 The Micro-Empirics of Agglomeration Economies -- 2 Human Capital Externalities in Cities: Identification and Policy Issues -- 3 The First Cities -- 4...