{"title":"Microgeographic speed, reliability, and traffic externalities","authors":"","doi":"10.1016/j.ecotra.2024.100371","DOIUrl":null,"url":null,"abstract":"<div><p>This paper estimates congestion externalities on a broad sample of roads in England’s capital region. A fixed effects approach that compares across times of day finds that 10% more traffic increases travel time by 4%, erodes reliability, and finds smallest marginal effects on high-capacity roads. I incorporate both expected travel time and reliability into a model of congestion externalities. Combining the model with travel data, I find that Central London’s Congestion Charge exceeds tolled drivers’ external costs if they only reflect travel time and reliability. Despite the large toll in London’s city centre, I find that deadweight loss in untolled parts of the city remains substantial, and that accounting for reliability increases deadweight loss by as much as 55%.</p></div>","PeriodicalId":45761,"journal":{"name":"Economics of Transportation","volume":null,"pages":null},"PeriodicalIF":2.2000,"publicationDate":"2024-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics of Transportation","FirstCategoryId":"5","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2212012224000303","RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
This paper estimates congestion externalities on a broad sample of roads in England’s capital region. A fixed effects approach that compares across times of day finds that 10% more traffic increases travel time by 4%, erodes reliability, and finds smallest marginal effects on high-capacity roads. I incorporate both expected travel time and reliability into a model of congestion externalities. Combining the model with travel data, I find that Central London’s Congestion Charge exceeds tolled drivers’ external costs if they only reflect travel time and reliability. Despite the large toll in London’s city centre, I find that deadweight loss in untolled parts of the city remains substantial, and that accounting for reliability increases deadweight loss by as much as 55%.