The theory of road pricing developed for single links suggests time andlocation varying charges equal to the marginal congestion cost at the efficientlevel of traffic. The second-best network counterpart is derived, but would beinfeasible to implement. Cordon tolls are feasible, and their...

This paper estimates the marginal accident externality of driving in Central London by exploiting variation in traffic flow induced by the London Congestion Charge Zone using an instrumental variable approach. The charge attributed to a 9.4% reduction in traffic flow, which resulted in a less...

This paper assesses and quantifies responses to changes in the area over which the congestion charge is applied, with a successive focus on (i) an extension and (ii) a reduction in the size of the zone. We exploit the unanticipated nature of both the implementation and removal of London's...