Congestion Theory and Transport Investment by William S. Vickrey
             Congestion Theory and Transport Investment identifies the major problems of traffic congestions. The findings in the article are based on empirical evidence and calculi and it is written in a formal and specialized style, addressing as such the expert in urban economics. The ten page article is structured into seven parts: 'Deepening' and 'Widening' of Transport Investment, Types of Congestions, Accidents as a Cause of Congestion, Construction to Ease Bottlenecks, Expansion of Routes in the Presence of Alternative Routes, Variations in the Value of Time and Evaluation of Investment in Congestion Relief.
             'Deepening' and 'Widening' of Transport Investment
             'Deepening' and 'Widening' of Transport Investment emphasizes on the need to analyze various forces before establishing the necessary investments to be made in transportation channels. These factors that must be taken into consideration according to Vickrey include the marginal cost, congestions, bottlenecks, existing and alternative routes as well as consumer surplus. Due to a lack of adequate analysis and implementation of these forces, the current transportation networks in cities are under-developed as the investments in infrastructure have been reduced. The first part of the article defines the particular type of investment that is aimed at reducing traffic congestions. "Criteria based on apparent profitability may be seriously misleading in the opposite direction, and when notions of consumers' surplus are narrowly applied without regard to the overall situation, the errors may be compound. This is especially likely to be the case where charges levied for the use of the existing and prospective competing facilities are far wide of the mark of representing marginal cost, as they often tend to be" (Vickrey, 1969).
             Types of Conge...