A.A. Walters derived a traffic flow function, and advocated toll to cure congestion. He wanted to save lives and monies, time is money, in congestion. NYC and Hong Kong have been practicing his policy for years, but surviving drivers are still tortured by congestion. Walters’ intention is...

For several decades growth of traffic volumes has outstrippedinvestments inroad infrastructure. The result has been a relentless increase intrafficcongestion. This paper reviews the economic principles behindcongestionpricing in static and dynamic settings, which derive from thebenefits...

This paper studies the regulation of an airline duopoly on a congested airport. Regulation should then address two market failures: uninternalized congestion, and overpricing due to market power. We find that first-best charges are differentiated over airlines if asymmetric, and completely drive...