On the equivalence of competitive transportation markets and congestion in spatial price equilibrium models

On the equivalence of competitive transportation markets and congestion in spatial price equilibrium models

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Article ID: iaor1989957
Country: United States
Volume: 23
Issue: 2
Start Page Number: 112
End Page Number: 117
Publication Date: May 1989
Journal: Transportation Science
Authors: ,
Abstract:

This paper explicitly incorporates 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. The paper shows that the existence of markets for transportation services is equivalent to the existence of congestion in a spatial price equilibrium model. In addition, it gives general suggestions regarding the application of these models.

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