By David M. Levinson
Pollutants, replacement fuels, congestion, clever transportation platforms, and the shift from building to upkeep all demand a reconsideration of the prevailing road profit mechanisms, particularly the fuel tax. David Levinson explores the elemental theoretical foundation of road finance, specifically using tolls, and helps that conception with empirical facts. the writer examines street finance from the viewpoint of person jurisdictions and guests, and considers their interactions instead of specifying a unmarried optimum resolution. Congestion pricing has lengthy been a objective of transportation economists, who think it's going to bring about a extra effective use of assets. Levinson argues that if the governance have been to turn into extra decentralized, and assortment expenditures proceed to drop, tolls may possibly go back to prominence because the most well-liked technique of financing roads for either neighborhood and intercity trip. An method that creates the neighborhood winners essential to enforce highway pricing is needed prior to it may be anticipated to develop into frequent. Economists, civil engineers, planners, scholars and policymakers will locate this designated exam of transportation networks enlightening and precious.
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Extra info for Financing Transportation Networks (Transport Economics, Management, and Policy)
The revenue was used to finance construction and expansion of the toll system. This system has been adopted by Oslo and Trondheim, and considered by many other cities. The tolls use electronic as well as manual collection, and provide volume discounts for frequent users (PRA 1996). The extent to which volume discounts increase automobile travel is not yet known. CONCLUSIONS Both push and pull factors created the pressure to charter and build turnpikes. Pull factors included the economics of promoting more longerdistance trade.
Central to the definition and valuation of externalities is the definition of the agent in question. One way is to define agents as comprising each vehicle. A vehicle influences other vehicles (agents) by generating effects (such as congestion and increasing the risk of accident) largely contained within the transportation system. A vehicle also influences unrelated agents by generating effects (such as noise and air pollution) not contained within the transportation system. Alternatively, the infrastructure operator may be selected as the agent, thereby internalizing the first set of effects.
Second, a decline in transaction costs to the point where they are equal to or lower than the costs of other revenue streams is necessary, where transaction costs include both delay to users and collection costs for operators. These two factors should shift beliefs about the utility of imposing tolls, as they are designed to toll someone else (not the individual making the decision to support them) and they raise at least as much revenue at similar levels of or less inconvenience. NOTES 1. There are several rationales for placing pennies with the dead: Charon’s toll: A coin, about equal to a penny, was placed in the mouth or hand of the dead to pay Charon for ferrying the spirit across the river Styx to the Elysian fields.