The value of automobile travel time: implications for congestion policy

Article Abstract:

Traffic congestion policymakers must still pursue the policy that teaches that the net benefits from congestion tolls are large, despite doubts about the policy. Such methods as extending public transportation and investing in intelligent-vehicle road systems will not diminish congestion in the long term due to passive demand. It seems that even high-income commuters simply fail to appreciate travel time savings enough to profit considerably from tolls.

Bridge, Tunnel, Tpke Auth, Other Support Activities for Road Transportation, Traffic congestion, Transportation authorities, Tolls

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The Ramsey problem for congestible facilities

Article Abstract:

An analysis of the economics of congestible facilities is presented. Earlier models predict the cost function from consumers' time-of-use decisions and the congestion technology. However, standard models show that the problem of congestible facilities can be expressed in a general cost function form. This standard approach is applied to the Ramsey condition. It is shown that a general solution generates cost inefficiency.

Analysis, Toll roads, Cost (Economics), Costs (Economics)

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When are anonymous congestion charges consistent with marginal cost pricing?

Article Abstract:

Marginal cost pricing in the case of an anonymous congestion charge becomes feasible when there is no limitation on the time constraint of the congestion charge. This implies that the feasibility of marginal cost pricing is not affected by the unobservable differences between individuals. The marginal cost pricing becomes not feasible when the time variation of the congestion charge is limited.

Economics, Research and Development in the Social Sciences and Humanities, Pricing, Public goods

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