Besides what everyone else have explained about induced demand, I remember reading in a book that after 3 lanes per side, lane changes becomes one of the big bottlenecks slowing down traffic. We humans are not good at driving; some people tend to do many unnecessary lane changes causing disruption that gets propagated trough the whole freeway, having extra lanes increases the amount of lane changes people perform exponentially, causing more disruption that eats away any gains from the extra lanes.
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