Comparison of three empirical models of airport congestion pricing

We compare three empirical models of airport congestion pricing: a standard peak-load-pricing model with econometrically estimated demand and delay fu nctions (Morrison [7], Morrison and Winston [8]); a deterministic bottlenec k model with traffic adjusting intertemporally to congestion prices (Vickre y [9], Arnott et al.[2]); and a bottleneck model with time-dependent stocha stic queuing (Daniel [4]). When implemented using Daniel's airport traffic data, the models produce similar traffic patterns under weight-based pricin g, but differ significantly under congestion pricing. We conclude that stru ctural modeling of stochastic traffic, queues, and intertemporal substituti on is necessary to produce realistic responses of traffic patterns to conge stion pricing. (C) 2000 Academic Press.