Local stability of traffic equilibria in an isotropic network

For a static economic model of auto traffic in an isotropic zone, this paper classifies possible equilibria into three types, by whether traffic is hypercongested and by the relative slopes of "supply"and "demand"curves. We then conduct a local stability analysis of each type when density, demand and the unit travel time (inverse speed) evolve gradually and simultaneously according to dynamical systems of differential equations. Some hypercongested equilibria may be stable when demand adjusts quickly enough to congestion. Other hypercongested equilibria, which have counterintuitive comparative statics, are never stable. Non-hypercongested equilibria can be unstable under special circumstances. A discrete event simulation with a dynamic Poisson arrival process supports the results of the formal analysis.