Abstract
We compare three empirical models of airport congestion pricing: a standard peak-load-pricing model with econometrically estimated demand and delay functions (Morrison [7], Morrison and Winston [8]); a deterministic bottleneck model with traffic adjusting intertemporally to congestion prices (Vickrey [9], Arnott et al. [2]); and a bottleneck model with time-dependent stochastic queuing (Daniel [4]). When implemented using Daniel's airport traffic data, the models produce similar traffic patterns under weight-based pricing, but differ significantly under congestion pricing. We conclude that structural modeling of stochastic traffic, queues, and intertemporal substitution is necessary to produce realistic responses of traffic patterns to congestion pricing.
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