Second-best Congestion Pricing Schemes in the Monocentric City

  title={Second-best Congestion Pricing Schemes in the Monocentric City},
  author={Erik Verhoef},
This paper considers second-best congestion pricing in the monocentric city, with endogenous residential density and endogenous labour supply. A spatial general equilibrium model is developed that allows consideration of the three-way interactions between urban density, traffic congestion and labour supply. Congestion pricing schemes are analyzed that are second-best ‘by design’ (and not because distortions exist elsewhere in the spatial economy), like cordon charging and flat kilometre charges… CONTINUE READING

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