Construct · 1 fields · 1 citations

Pigou-Knight-Downs paradox: a standalone construct

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Transport economics

the idea that expanding an uncongested alternative road draws traffic until travel times equalize, so added capacity may not lower peak congestion.

In transport economics, Pigou-Knight-Downs paradox refers to the idea that expanding an uncongested alternative road draws traffic until travel times equalize, so added capacity may not lower peak congestion. This meaning comes from Knight (1924) in The Quarterly Journal of Economics.[1]

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Nearby constructs

capacity5 fields · 8 citationsjingle · one word, four limits congestion3 fields · 3 citationsjingle · one word, three constructs paradox3 fields · 4 citationsjingle · one word, three constructs

References

Knight, F. H. (1924). Some Fallacies in the Interpretation of Social Cost. The Quarterly Journal of Economics, 38(4), 582. https://doi.org/10.2307/1884592

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