One reason why we have a problem convincing policy makers about congestion pricing is that the economists from Walters on have got details of the theory wrong. In particular Walters did not realise the distinction between demand and flow. Getting the theory right, together with modern technology, opens up the opportunity to implement an …
One reason why we have a problem convincing policy makers about congestion pricing is that the economists from Walters on have got details of the theory wrong. In particular Walters did not realise the distinction between demand and flow. Getting the theory right, together with modern technology, opens up the opportunity to implement an effective pricing system that addresses many of the concerns expressed in the article. See https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3093395
One reason why we have a problem convincing policy makers about congestion pricing is that the economists from Walters on have got details of the theory wrong. In particular Walters did not realise the distinction between demand and flow. Getting the theory right, together with modern technology, opens up the opportunity to implement an effective pricing system that addresses many of the concerns expressed in the article. See https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3093395