Abstract"Congestion generates travel delays and other unobservable but palpable costs, such as stress and frustration. This paper exploits a unique empirical setting to estimate these unobservable costs and the externalities that they imply. Results suggest that the size of these externalities is comparable to the size of travel delay externalities. This paper also demonstrates that common methods for estimating travel delay externalities can reasonably approximate the combined externalities of delayed travel and unobservable congestion costs. "("JEL "R41, R48, D62) Copyright (c) 2008 Western Economic Association International.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 47 (2009)
Issue (Month): 2 (04)
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Find related papers by JEL classification:
- R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - Transportation: Demand, Supply, and Congestion
- R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - Government Pricing and Policy
- D62 - Microeconomics - - Welfare Economics - - - Externalities
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