On the Equivalence of Competitive Transportation Markets and Congestion in Spatial Price Equilibrium Models

Philip C. Jones and Eric S. Theise
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Philip C. Jones: Northwestern University, Evanston, Illinois 60201-9990
Eric S. Theise: Loyola University of Chicago, Chicago, Illinois 60611-2196

Transportation Science, 1989, vol. 23, issue 2, 112-117

Abstract: In this paper we explicitly incorporate competitive markets for transportation services into the framework of spatial price equilibrium modeling. These markets can be purely local, purely global, or a combination thereof. We show that the existence of markets for transportation services is equivalent to the existence of congestion in a spatial price equilibrium model. In addition, we give general suggestions regarding the application of these models.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ortrsc:v:23:y:1989:i:2:p:112-117

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