Economics of Traffic Congestion

This essential two-volume collection contains the most influential articles written over the past eight decades that contribute to an understanding of the economics of traffic congestion. The first volume explores the classic contributions on congestion and road pricing and includes papers in dynamic models and second-best congestion pricing. The second volume analyses ownership arrangements such as private roads, investment and financing, urban land use, social acceptability and distributional aspects of road pricing.Erik Verhoef has written an insightful introduction which provides a clear overview of a problem which is of major importance in both developed and developing countries.