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Replication files for "Pareto Improvements from Lexus Lanes: The Effects of Pricing a Portion of the Lanes on Congested Highways"

Version
V0
Resource Type
Dataset
Creator
  • Hall, Jonathan D. (University of Toronto)
Publication Date
2019-01-01
Description
  • Abstract

    Though economists have long advocated road pricing as an efficiency-enhancing solution to traffic congestion, it has rarely been implemented, primarily because it is thought to create losers as well as winners. This paper shows that a judiciously designed toll applied to a portion of the lanes of a highway can generate a Pareto improvement before using the revenue, a sufficient condition being that drivers with a high value of time travel at the peak of rush hour. I obtain these new theoretical results by extending a standard dynamic congestion model to reflect an important additional traffic externality: extra traffic does not simply increase travel times, but also introduces frictions that reduce throughput. The analysis draws attention to a practical policy that may help overcome the widespread opposition to road pricing.
Availability
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Relations
  • Cites
    DOI: 10.1016/j.jpubeco.2018.01.003 (Text)
Publications
  • Hall, Jonathan D. “Pareto Improvements from Lexus Lanes: The Effects of Pricing a Portion of the Lanes on Congested Highways.” Journal of Public Economics 158 (February 2018): 113–25. https://doi.org/10.1016/j.jpubeco.2018.01.003.
    • ID: 10.1016/j.jpubeco.2018.01.003 (DOI)

Update Metadata: 2019-11-12 | Issue Number: 1 | Registration Date: 2019-11-12

Hall, Jonathan D. (2019): Replication files for "Pareto Improvements from Lexus Lanes: The Effects of Pricing a Portion of the Lanes on Congested Highways". Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E115488