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Article: Congestion pricing. (traffic management)
- Article from:
- Business Insurance
- Article date:
- April 7, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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REDUCING TRAFFIC JAMS THROUGH ECONOMICS
In urban areas across the country, people are not only fed up with gridlock - they're paying for it.
For each of 13 urban areas in 1992, the cost caused by congestion exceeded $1 billion, according to the Texas Transportation Institute. Congestion costs were more than $8 billion for Los Angeles, more than $7 billion for New York City, and close to $3 billion each for San Francisco-Oakland, Chicago, and Washington, D.C.[1]
The congestion costs of wasted fuel and travel delays may have the best antidote yet in a concept called "congestion pricing." Congestion pricing charges a premium to road users who want to drive ...