This chapter discusses how economists are aiding in reducing traffic congestion. For years economists have been recommending a solution called peak pricing to help alleviate the surplus of cars during rush hour. By raising the price or toll at certain peak times, marginal drivers would take other routes or take the freeway at a different time, at off‐peak hours and commuters would work with their companies to go to work and get off work at off‐peak times. At the same time, tolls would provide additional financing to maintain the highways and build new lanes and roads where necessary. The chapter discusses the implementation of peak pricing in Singapore and how the imposition of a congestion charge in London resulted in reductions in traffic and congestion that exceeded expectations.
Look, Ma'am, No Traffic Jams!
Econo Power ; 83-91
2012-01-02
9 pages
Article/Chapter (Book)
Electronic Resource
English
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