Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/87552
Authors: 
Peer, Stefanie
Verhoef, Erik T.
Year of Publication: 
2013
Series/Report no.: 
Tinbergen Institute Discussion Paper 13-028/VIII
Abstract: 
We consider equilibrium and optimum use of a Vickrey road bottleneck, distinguishing between long-run and short-run scheduling preferences in an otherwise stylized scheduling model. The preference structure reflects that there is a distinction between the (exogenous) 'long-run preferred arrival time', which would be relevant if consumers were unconstrained in the scheduling of their activities, versus the 'short-run preferred arrival time', which is the result of an adaptation of travel routines in the face of constraints caused by, in particular, time-varying congestion levels. We characterize the unpriced equilibrium, the social optimum as well as second-best situations where the availability of the pricing instruments is restricted. All of them imply a dispersed distribution of short-run preferred arrival times. The extent of dispersion in the unpriced equilibrium, however, is higher than socially optimal.
Subjects: 
bottleneck model
scheduling decisions
travel routines
long-run vs. short-run
JEL: 
D80
R48
R41
H21
Document Type: 
Working Paper

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