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A cost-benefit analysis of the Stockholm congestion charging system

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  • Eliasson, Jonas

Abstract

This paper presents a cost-benefit analysis of the Stockholm congestion charging system, based on the observed rather than on the model-forecasted data. The most important data sources are travel time and traffic flow measurements made in the year before the charges were introduced (during April 2005) and during the first spring with the charges (during April 2006, 4 months after the charges were introduced). Using matrix calibration, effects on the non-observed link flows and travel times are extrapolated, enabling us to calculate the social value of changes in travel times and travel costs. Impacts on traffic safety and emissions are calculated using standard Swedish CBA relationships. The system is shown to yield a significant social surplus, well enough to cover both investment and operating costs, provided that it is kept for a reasonable lifetime: investment and startup costs are "recovered" in terms of social benefits in around 4 years.

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Bibliographic Info

Article provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.

Volume (Year): 43 (2009)
Issue (Month): 4 (May)
Pages: 468-480

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Handle: RePEc:eee:transa:v:43:y:2009:i:4:p:468-480

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Related research

Keywords: Congestion charges Road pricing Cost-benefit analysis;

References

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  1. Eliasson, Jonas & Hultkrantz, Lars & Nerhagen, Lena & Rosqvist, Lena Smidfelt, 2009. "The Stockholm congestion - charging trial 2006: Overview of effects," Transportation Research Part A: Policy and Practice, Elsevier, vol. 43(3), pages 240-250, March.
  2. Parry, Ian W H & Bento, Antonio, 2001. " Revenue Recycling and the Welfare Effects of Road Pricing," Scandinavian Journal of Economics, Wiley Blackwell, vol. 103(4), pages 645-71, December.
  3. Erik Amdal & Gunnar Bårdsen & Kåre Johansen & Morten Welde, 2007. "Operating costs in Norwegian toll companies: a panel data analysis," Transportation, Springer, vol. 34(6), pages 681-695, November.
  4. Kottenhoff, Karl & Brundell Freij, Karin, 2009. "The role of public transport for feasibility and acceptability of congestion charging - The case of Stockholm," Transportation Research Part A: Policy and Practice, Elsevier, vol. 43(3), pages 297-305, March.
  5. Mackie, Peter, 2005. "The London congestion charge: A tentative economic appraisal. A comment on the paper by Prud'homme and Bocajero," Transport Policy, Elsevier, vol. 12(3), pages 288-290, May.
  6. Atkinson, Anthony B & Stern, N H, 1974. "Pigou, Taxation and Public Goods," Review of Economic Studies, Wiley Blackwell, vol. 41(1), pages 119-28, January.
  7. Browning, Edgar K, 1976. "The Marginal Cost of Public Funds," Journal of Political Economy, University of Chicago Press, vol. 84(2), pages 283-98, April.
  8. Raux, Charles, 2005. "Comments on 'The London congestion charge: a tentative economic appraisal' ()," Transport Policy, Elsevier, vol. 12(4), pages 368-371, July.
  9. Prud'homme, Rémy & Bocarejo, Juan Pablo, 2005. "The London congestion charge: a tentative economic appraisal," Transport Policy, Elsevier, vol. 12(3), pages 279-287, May.
  10. Rich, Jeppe & Nielsen, Otto Anker, 2007. "A socio-economic assessment of proposed road user charging schemes in Copenhagen," Transport Policy, Elsevier, vol. 14(4), pages 330-345, July.
  11. Lundholm, Michael, 2005. "Cost-Benefit Analysis and the Marginal Cost of Public Funds," Research Papers in Economics 2005:3, Stockholm University, Department of Economics.
  12. Hansson, Ingemar, 1984. " Marginal Cost of Public Funds for Different Tax Instruments and Government Expenditures," Scandinavian Journal of Economics, Wiley Blackwell, vol. 86(2), pages 115-30.
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