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Efficiency of Decentralized Road Investment and Pricing in a Multi-Jurisdictional City with Spillovers

  • Jan K. Brueckner

This paper shows that the inefficiency of fiscal decentralization in the presence of spillovers, a main tenet of the decentralization literature, is overturned in a particular transportation context. In a monocentric city where road (bridge) capacity is financed by budget-balancing user fees, decentralized capacity choices (made by individual zones within the city) generate the social optimum despite the presence of spillovers. This conclusion is closely tied to the famous self-financing theorem of transporation economics.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2013/wp-cesifo-2013-09/cesifo1_wp4384.pdf
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 4384.

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Date of creation: 2013
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Handle: RePEc:ces:ceswps:_4384
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  1. Kanemoto, Yoshitsugu, 1977. "Cost-benefit analysis and the second best land use for transportation," Journal of Urban Economics, Elsevier, vol. 4(4), pages 483-503, October.
  2. Wheaton, William C., 1998. "Land Use and Density in Cities with Congestion," Journal of Urban Economics, Elsevier, vol. 43(2), pages 258-272, March.
  3. Jan K. Brueckner & Robert W. Helsley, 2009. "Sprawl and Blight," Working Papers 091003, University of California-Irvine, Department of Economics.
  4. Anas, Alex & Pines, David, 2008. "Anti-sprawl policies in a system of congested cities," Regional Science and Urban Economics, Elsevier, vol. 38(5), pages 408-423, September.
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