Walters' Congestion Theory - Revisited

11 Pages Posted: 22 Jun 2014

Date Written: June 22, 2014

Abstract

John McDonald, in a recent paper, (McDonald (2013)) provides a clear rebuttal of a paper by Choi (2013) that questions the theory of A.A. Walters (1961). However both he and Choi reproduce without comment an error made by Walters that – although it does not invalidate his theory – seriously compromises its interpretation. This paper explains the error and shows how avoiding it enables better insights to be made about the optimum toll.

Keywords: Congestion, optimum toll, traffic flow

JEL Classification: D62

Suggested Citation

Lupton, David, Walters' Congestion Theory - Revisited (June 22, 2014). Available at SSRN: https://ssrn.com/abstract=2457516 or http://dx.doi.org/10.2139/ssrn.2457516

David Lupton (Contact Author)

Independent ( email )

No Address Available

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