Roberto Cominetti, University Adolfo Ibáñez, Chile
We review several alternative models that have been used to describe traffic in congested networks, both in urban transport and telecommunications. We focus on situations where travel times are subject to random fluctuations and how this variability affects the traffic flows. We consider both atomic and non-atomic equilibrium models, and we discuss a class of adaptive dynamics that describe the behavior of agents and which provides a plausible micro-foundation for the emergence of equilibrium. We also discuss some recent ideas on how risk aversion to random travel times might be incorporated in the models. In our presentation we use convex optimization to provide a unifying framework for the different concepts of equilibrium.
Material
Slides: pdf
Videos: 1, 2, 3, and 4
