The history of turnpikes from their first deployment in the 17th century through their decline in the 19th century, and some restoration in the 20th century is analyzed with a view to understanding the systematic causes of these changes. Key factors posited to explain both the rise and decline include the length of trips using the roads, the size of the governing jurisdiction, the degree of excludability, and the transactions costs of collection - which dictate the size and scope of the free rider problem associated with financing. This paper concludes with some discussion of what is required for turnpikes to become the preferred financing mechanism for highways.
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Paper provided by University of Minnesota: Nexus Research Group in its series Working Papers with number
199903.
Length: Date of creation: 2001 Date of revision: Publication status: Published in Road Pricing, Traffic Congestion and the Environment (ed. Ken Button, Erik Verhoef). Edward Elgar Publishers. Handle: RePEc:nex:wpaper:rpip
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Find related papers by JEL classification: R40 - Urban, Rural, and Regional Economics - - Transportation Systems - - - General R48 - Urban, Rural, and Regional Economics - - Transportation Systems - - - Government Pricing; Regulatory Policies H22 - Public Economics - - Taxation, Subsidies, and Revenue - - - Incidence H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
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