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Do Economists Reach A Conclusion on Road Pricing? The Intellectual History of an Idea

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  • Robin Lindsey
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    Abstract

    My search of the economic literature did not find a soul who favours traffic jams. Moreover, I find strong consensus among economists on how to reduce traffic jams. Especially in light of modern electronic toll collection, they believe in pricing highway capacity as a scarce resource. Beyond that primary insight, however, there is much disagreement. Economists disagree over how to set tolls, how to cover common costs, what to do with any excess revenues, whether and how “losers†from tolling previously free roads should be compensated, and whether to privatize highways. These disagreements fill a lot of pages, while the main point of agreement is largely taken for granted. Practically all economists who write on the matter agree that where there is significant congestion on highways, the price should not be zero.

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    Bibliographic Info

    Article provided by Econ Journal Watch in its journal Econ Journal Watch.

    Volume (Year): 3 (2006)
    Issue (Month): 2 (May)
    Pages: 292-379

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    Handle: RePEc:ejw:journl:v:3:y:2006:i:2:p:292-379

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    Related research

    Keywords: Road pricing; tolls; toll collection; toll roads; turnpikes; highways; marginal-cost pricing; traffic congestion; Pigouvian taxes; economists;

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    Cited by:
    1. Tan, Zhijia & Yang, Hai & Guo, Xiaolei, 2010. "Properties of Pareto-efficient contracts and regulations for road franchising," Transportation Research Part B: Methodological, Elsevier, vol. 44(4), pages 415-433, May.
    2. Carmona, Miguel, 2010. "The regulatory function in public-private partnerships for the provision of transport infrastructure," Research in Transportation Economics, Elsevier, vol. 30(1), pages 110-125.
    3. Ian W.H. Parry, 2009. "Pricing Urban Congestion," Annual Review of Resource Economics, Annual Reviews, vol. 1(1), pages 461-484, 09.
    4. Lou, Yingyan & Yin, Yafeng & Lawphongpanich, Siriphong, 2010. "Robust congestion pricing under boundedly rational user equilibrium," Transportation Research Part B: Methodological, Elsevier, vol. 44(1), pages 15-28, January.
    5. Yang, Hai & Wang, Xiaolei, 2011. "Managing network mobility with tradable credits," Transportation Research Part B: Methodological, Elsevier, vol. 45(3), pages 580-594, March.
    6. 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.

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