Micro-foundations of congestion and pricing : A game theory perspective

  title={Micro-foundations of congestion and pricing : A game theory perspective},
  author={David Levinson},
This paper develops congestion theory and congestion pricing theory from its micro-foundations, the interaction of two or more vehicles. Using game theory, with a two-player game it is shown that the emergence of congestion depends on the players relative valuations of early arrival, late arrival, and journey delay. Congestion pricing can be used as a cooperation mechanism to minimize total costs (if returned to the players). The analysis is then extended to the case of the three-player game… CONTINUE READING
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