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Because, as traffic and transportation research is starting to show, traffic is supply-side (capacity) dominated, given time to reach equilibrium in a growing r
by beerandt 7y ago
Because, as traffic and transportation research is starting to show, traffic is supply-side (capacity) dominated, given time to reach equilibrium in a growing region.
It's a great example of a market with a fixed price (excluding some newer ppp toll schemes) and highly variable demand. (And where costs besides the direct price that end up controlling.)
- mikepurvis 7y ago> starting to show I mean, it's good that it's finally hitting the mainstream, but induced demand has been a recognized phenomenon for literally decades: https://en.wikipedia.org/wiki/Induced_demand#History https://en.wikipedia.org/wiki/Induced_demand#History The reverse of this is what justifies a lot of ped/cycle infrastructure projects even in areas where there don't currently seem to be a lot of people out walking or on foot— "build it and they will come".
- beerandt 7y agoThat's true, but having GPS and being able to do studies that are based on actually tracking vehicles has been a game changer (instead of just point traffic counts or driver questionnaires).