Road congestion: A reconsideration of pricing theory |
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Authors: | JV Henderson |
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Institution: | 1. Departments of Economics, Queen''s University, Kingston, Ontario, Canada;2. The University of Chicago, Chicago, Illinios 60637 U.S.A. |
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Abstract: | In this paper, the effect of congestion tolls upon the pattern of traffic flows is examined. Congestion tolls influence the individual commuter's decision of when to make a trip, inducing him to travel at less congested times. When all commuters are taken together, congestion tolls and the individual consumers' decisions lead to an efficient reorganization of traffic flows relative to a non-toll situation. In fact, for the same total number of commuters, per person costs of travel including the toll may decline with the imposition of tolls and efficient reorganization of traffic flows. |
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