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This paper considers the modeling of road congestion subject to peak-load demand. The standard model contains ambiguities and is poorly specified. These problems can be eliminated by working with a structural model that explicitly treats the congestion technology and drivers' behavioral decisions. The paper provides a detailed analysis of a particular structural model--William Vickrey's model of bottleneck congestion in the morning rush-hour auto commute, extended to treat elastic (i.e., price-sensitive) demand--and examines some economic implications of the structural approach.