Rights statement: This is the author’s version of a work that was accepted for publication in Journal of Public Economics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Public Economics, 133, 2015 DOI: 10.1016/j.jpubeco.2015.10.005
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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Traffic accidents and the London congestion charge
AU - Green, Colin Peter
AU - Heywood, John Spencer
AU - Navarro Paniagua, Maria
N1 - This is the author’s version of a work that was accepted for publication in Journal of Public Economics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Public Economics, 133, 2015 DOI: 10.1016/j.jpubeco.2015.10.005
PY - 2016/1
Y1 - 2016/1
N2 - In a rare effort to internalize congestion costs, London recently instituted charges for traveling by car to the central city during peak hours. Although the theoretical influence on the number and severity of traffic accidents is ambiguous, we show that the policy generated a substantial reduction in both the number of accidents and in the accident rate. At the same time, the spatial, temporal and vehicle specific nature of the charge may cause unintended substitutions as traffic and accidents shift to other proximate areas, times and to uncharged vehicles. We demonstrate that, to the contrary, the congestion charge reduced accidents and the accident rate in adjacent areas, times and for uncharged vehicles. These results are consistent with the government's objective to use the congestion charge to more broadly promote public transport and change driving habits.
AB - In a rare effort to internalize congestion costs, London recently instituted charges for traveling by car to the central city during peak hours. Although the theoretical influence on the number and severity of traffic accidents is ambiguous, we show that the policy generated a substantial reduction in both the number of accidents and in the accident rate. At the same time, the spatial, temporal and vehicle specific nature of the charge may cause unintended substitutions as traffic and accidents shift to other proximate areas, times and to uncharged vehicles. We demonstrate that, to the contrary, the congestion charge reduced accidents and the accident rate in adjacent areas, times and for uncharged vehicles. These results are consistent with the government's objective to use the congestion charge to more broadly promote public transport and change driving habits.
KW - Traffic
KW - Congestion externalities
KW - Pricing
KW - Vehicular Accidents
U2 - 10.1016/j.jpubeco.2015.10.005
DO - 10.1016/j.jpubeco.2015.10.005
M3 - Journal article
VL - 133
SP - 11
EP - 22
JO - Journal of Public Economics
JF - Journal of Public Economics
SN - 0047-2727
ER -