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- W2008204118 abstract "Urban planners designing the optimal scale and pricing of highway services must pay close attention to the choice of the functional form used to describe the relationship between highway speed and the volume of roadway traffic. This congestion relationship is a crucial empirical fact for planning. While past work have posited a variety of speed-volume models, no successful efforts have been made to statistically compare the different specifications. This paper presents a generalized congestion function (GCF) which allows us to select the preferred (by a maximum likelihood criterion) speed-volume specification. The most prominent previous speed-volume models are all shown to be special cases of GCF. Failure to use the GCF approach may be very costly. For example, in the design of highway tolls the switch from the optimal GCF specification to a statistically “second-best” model may lead to a consumer surplus loss of $1 million annually for a typical urban area." @default.
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- W2008204118 date "1978-01-01" @default.
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- W2008204118 title "A generalized congestion function for highway travel" @default.
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- W2008204118 doi "https://doi.org/10.1016/0094-1190(78)90034-7" @default.
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