@article{ref1,
title="Equilibrium at a bottleneck when long-run and short-run scheduling preferences diverge",
journal="Transportation research part B: methodological",
year="2013",
author="Peer, Stefanie and Verhoef, Erik T.",
volume="57",
number="",
pages="12-27",
abstract="We consider the use of a Vickrey road bottleneck in the context of repetitive scheduling choices, distinguishing between long-run and short-run scheduling preferences. 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, and 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 entail a dispersed distribution of short-run preferred arrival times. We obtain the intriguing results that the dispersion is lower in the social optimum than in the unpriced equilibrium, and that the application of first-best short-run tolls does not induce efficient long-run choices of travel routines.<p />",
language="en",
issn="0191-2615",
doi="10.1016/j.trb.2013.09.001",
url="http://dx.doi.org/10.1016/j.trb.2013.09.001"
}