Walters' Congestion Theory
7 Pages Posted: 16 Oct 2013
Date Written: October 15, 2013
The purpose of this paper is to explain the traffic congestion theory of A. A. Walters (1961). The recent paper by Choi (2013) provides an interpretation of the theory that is no consistent with the Walters presentation. This paper provides an empirical example that demonstrates the validity of the Walters presentation and discusses implications for congestion tolls.
Keywords: Congestion, Toll, Traffic Flow
JEL Classification: R4
Suggested Citation: Suggested Citation