Equilibrium Approximation: How Good

This lecture explores the limits of equilibrium models in transportation, focusing on the equilibrium approximation, variability in demand and supply, stability, information, rationality, level of details, and estimation. It delves into traffic conditions and the concept of equilibrium, discussing equilibrium stability, day-to-day dynamics, congestion mechanism, congestion games, departure time choice, and adjustment mechanisms through simulation experiments with homogeneous and heterogeneous users.