of congestion externalities. We show in this paper that the resulting equilibrium may not be unique for particular models … of congestion, including the first-best solution for the conventional Vickrey's bottleneck model. This can have … occur for the well-known dynamic flow congestion model proposed by Chu. A unique equilibrium can be obtained in the …

of congestion externalities. We show in this paper that the resulting equilibrium may not be unique for particular models … of congestion, including the first-best solution for the conventional Vickrey's bottleneck model. This can have … occur for the well-known dynamic flow congestion model proposed by Chu. A unique equilibrium can be obtained in the …

attributes of other individuals or firms that choose the same or nearby locations in equilibrium. The main goal of this paper is … to develop the equilibrium properties of a broadly applicable and readily estimable class of sorting models that allow … interactions. In particular, we prove uniqueness in the case of congestion effects and use a series of simulations to demonstrate …

interest in measuring the size and scope of local spillovers (i.e., simple anonymous agglomeration or congestion effects, or … attributes for a broadly applicable class of equilibrium sorting models. This approach relies on an instrumental variables … model, and carry-out a series of Monte Carlo experiments to demonstrate the instruments' performance in small samples. …