We estimate the marginal external congestion cost of motor-vehicle travel for Rome, Italy, using a methodology that accounts for hypercongestion (a situation where congestion decreases a road’s throughput). We show that the external cost – even when roads are not hypercongested...

We estimate the marginal external congestion cost of motor-vehicle travel for Rome, Italy, using a methodology that accounts for hypercongestion (a situation where congestion decreases a road's throughput). We show that the external cost - even when roads are not hypercongested - is substantial,...

Problem definition: Congestion pricing offers an appealing solution to urban parking problems---charging varying rates across time and space as a function of congestion may shift demand and improve allocation of limited resources. It aims to increase the accessibility of highly desired public...

In Becker (1965) and neoclassical microeconomic theory the value of time is a constant fraction of the hourly wage. When taken to data, however, this value departs from theoretical predictions, and appears to vary with the amount of time saved. By observing drivers on freeways opting to enter...