ENDOGENOUS SCHEDULING PREFERENCES AND CONGESTION

• 成果类型: Article
• 署名作者: Fosgerau, Mogens; Small, Kenneth
• 署名单位: Technical University of Denmark; University of California System; University of California Irvine; Resources for the Future
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12228
• 发表日期: 2017
• 页码: 585-615
• 关键词: agglomeration economies; time; equilibrium; bottleneck; MODEL

摘要

We consider the timing of activities through a dynamic model of commuting with congestion, in which workers care solely about leisure and consumption. Implicit preferences for the timing of the commute form endogenously due to temporal agglomeration economies. Equilibrium exists uniquely and is indistinguishable from that of a generalized version of the classical Vickrey bottleneck model, based on exogenous trip-timing preferences, but optimal policies differ: the Vickrey model will misstate the benefits of a capacity increase, it will underpredict the benefits of congestion pricing, and pricing may make people better off even without considering the use of revenues.