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Cover of: Using Technology to Eliminate Traffic Congestion
Axel Ockenfels, Peter Cramton, R. Richard Geddes

Using Technology to Eliminate Traffic Congestion

Section: Articles
Volume 175 (2019) / Issue 1, pp. 126-139 (14)
Published 19.12.2018
DOI 10.1628/jite-2019-0012
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  • 10.1628/jite-2019-0012
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Summary
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.