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Using Technology to Eliminate Traffic Congestion

Author

Listed:
  • Peter Cramton
  • R. Richard Geddes
  • Axel Ockenfels

Abstract

Traffic congestion is a pervasive worldwide problem. We explain how to harness existing technologies together with new methods in time-and-location marketsto eradicate traffic congestion along with its attendant social harms. Our market design for road use builds on congestion pricing and models of efficient pricingin the electricity sector. The market maximizes the value of a transport network through efficient scheduling, routing, and pricing of road use. Privacy and equity concerns are addressed. Transparent price information provides essential information for efficient long-term investment in transport.

Suggested Citation

  • Peter Cramton & R. Richard Geddes & Axel Ockenfels, 2019. "Using Technology to Eliminate Traffic Congestion," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 175(1), pages 126-139.
    • Handle: RePEc:mhr:jinste:urn:doi:10.1628/jite-2019-0012
    DOI: 10.1628/jite-2019-0012
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    Citations

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    Cited by:

    1. Moshe Babaioff & Ruty Mundel & Noam Nisan, 2021. "Beyond Pigouvian Taxes: A Worst Case Analysis," Papers 2107.12023, arXiv.org, revised Sep 2021.
    2. Frondel, Manuel, 2019. "Straßennutzungsgebühren: Eine Lösung zur Vermeidung von Staus?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 218-225.
    3. Flintz, Joschka & Frondel, Manuel & Horvath, Marco & Vance, Colin, 2022. "Emission effects of Germany's vehicle taxation: Recent empirical evidence," Ruhr Economic Papers 978, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    4. Schwarz, Gregor & Bichler, Martin, 2022. "How to trade thirty thousand products: A wholesale market design for road capacity," Transportation Research Part A: Policy and Practice, Elsevier, vol. 164(C), pages 167-185.

    More about this item

    Keywords

    congestion pricing; dynamic road pricing; transport market design;
    All these keywords.

    JEL classification:

    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy

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