A Negative Toll Theory
5 Pages Posted: 29 Oct 2013 Last revised: 16 Oct 2017
Date Written: October 27, 2013
Abstract
This paper proves that the Pigou-Knight road toll is measured from a wrong direction. Having changed the direction, this paper proves that Walters' traffic curve should be called the compensation curve. Road users with higher cost should receive compensation, just like delayed passengers obtain compensation from airlines or high-speed rails.
Keywords: Congestion, Toll, Compensation
JEL Classification: R41
Suggested Citation: Suggested Citation
Choi, Hak, A Negative Toll Theory (October 27, 2013). Available at SSRN: https://ssrn.com/abstract=2345809 or http://dx.doi.org/10.2139/ssrn.2345809
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