The regulation of road transport externalities - environmental pollution, noise annoyance, accidents and congestion - is one of the most important issues in contemporary transport policies. The Economics of Regulating Road Transport explores welfare economic evaluations - in terms of efficiency...

This paper discusses a number of issues that will become increasingly important nowthat the concept of marginal external cost pricing becomes more likely to be implementedas a policy strategy in transport in reality. The first part of the paper deals with thelong-run efficiency of marginal...