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The impact of the London congestion charging scheme on the generalised cost of car commuters to the city of London from a value of travel time savings perspective

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  • Santos, Georgina
  • Bhakar, Jasvinder

Abstract

This paper shows that the impacts of the London Congestion Charging Scheme should not be analysed from the standard approach to value of travel time savings. This will invariably lead to the mistaken conclusion that drivers who value their travel time savings below the £5 congestion charge will be regarded as losers from the Scheme. The use of a simple expression of generalised costs leads to different conclusions. First, a motorist who continues to drive but values the time savings of the Scheme less than £5 can still gain from the scheme, if the generalised cost post-charging is lower than the generalised cost pre-charging. Second, a motorist who switches to the bus can still gain from the scheme. Since the bus travel time post-charging will typically be lower than the bus travel time pre-charging, it is possible that the generalised cost of a trip by car pre-charging will be higher than the generalised cost of a trip by bus post-charging, even after taking into consideration the inconvenience of switching.

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Bibliographic Info

Article provided by Elsevier in its journal Transport Policy.

Volume (Year): 13 (2006)
Issue (Month): 1 (January)
Pages: 22-33

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Handle: RePEc:eee:trapol:v:13:y:2006:i:1:p:22-33

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References

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  1. Calfee, John & Winston, Clifford, 1998. "The value of automobile travel time: implications for congestion policy," Journal of Public Economics, Elsevier, vol. 69(1), pages 83-102, July.
  2. Brownstone, David & Small, Kenneth A., 2003. "Valuing Time and Reliability: Assessing the Evidence from Road Pricing Demonstrations," University of California Transportation Center, Working Papers qt95z0p35k, University of California Transportation Center.
  3. Georgina Santos & Laurent Rojey, 2004. "Distributional impacts of road pricing: The truth behind the myth," Transportation, Springer, vol. 31(1), pages 21-42, February.
  4. Hensher, David A. & Goodwin, Phil, 2004. "Using values of travel time savings for toll roads: avoiding some common errors," Transport Policy, Elsevier, vol. 11(2), pages 171-181, April.
  5. Hau, Timothy D., 1992. "Economic fundamentals of road pricing : a diagrammatic analysis," Policy Research Working Paper Series 1070, The World Bank.
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Cited by:
  1. André De Palma & Robin Lindsey, 2009. "Traffic Congestion Pricing Methods and Technologies," Working Papers hal-00414526, HAL.
  2. Rotaris, Lucia & Danielis, Romeo & Marcucci, Edoardo & Massiani, Jérôme, 2010. "The urban road pricing scheme to curb pollution in Milan, Italy: Description, impacts and preliminary cost-benefit analysis assessment," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(5), pages 359-375, June.
  3. Elvik, Rune & Ramjerdi, Farideh, 2014. "A comparative analysis of the effects of economic policy instruments in promoting environmentally sustainable transport," Transport Policy, Elsevier, vol. 33(C), pages 89-95.
  4. Ian W.H. Parry, 2009. "Pricing Urban Congestion," Annual Review of Resource Economics, Annual Reviews, vol. 1(1), pages 461-484, 09.
  5. repec:hal:wpaper:halshs-00467888 is not listed on IDEAS
  6. Ahmadi Azari, Kian & Arintono, Sulistyo & Hamid, Hussain & Rahmat, Riza Atiq O.K., 2013. "Modelling demand under parking and cordon pricing policy," Transport Policy, Elsevier, vol. 25(C), pages 1-9.
  7. Souche, Stéphanie & Raux, Charles & Croissant, Yves, 2012. "On the perceived justice of urban road pricing: An empirical study in Lyon," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(7), pages 1124-1136.
  8. Xie, Litian & Olszewski, Piotr, 2011. "Modelling the effects of road pricing on traffic using ERP traffic data," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(6), pages 512-522, July.
  9. repec:hal:cesptp:halshs-00467888 is not listed on IDEAS

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