An improved rubber modified asphalt paving binder is provided by incorporating a minor proportion of a polyoctenamer into the heated liquid asphalt cement. The binder can contain from about 80% to about 99% by weight of asphalt cement, from about 0.5% to about 20% by weight of crumb rubber, such as ground tire rubber ("GTR"), and from about 0.01% to about 10% by weight of the polyoctenamer. The polyoctenamer can be of the trans- or cis- form, such as that sold under the brand name VESTENAMER TM . A paving concrete is provided by adding the improved asphalt binder, with mixing, to conventional aggragate materials, which materials can also contain additional crumb rubber.
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