Network Externalities and Incomplete Information in Urban Transport

Christelle Viauroux

University of Cincinnati, Economics Working Papers Series from University of Cincinnati, Department of Economics

Abstract: We develop a structural microeconomic model of urban travel demand. This model incorporates aversion to congestion by individuals and determines the degree of congestion endogenously. Each individual?s optimal travel decision depends on the travel decisions of others, such that in Nash equilibrium all individuals simultaneously decide on the number of trips.The model is estimated for optimal modes of transportation and optimal fares. It reveals the relevance of incomplete information in transportation markets. We also estimate a measure of the individuals' willingness to pay for gaining time in traffic.

Pages: 37 pages
Date: 2004
New Economics Papers: this item is included in nep-geo and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:cin:ucecwp:2004-03

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