Peter Cramton, R. Richard Geddes, Axel Ockenfels

Using Technology to Eliminate Traffic Congestion

Volume 175 () / Issue 1, pp. 126-139 (14)

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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.

Peter Cramton No current data available.

R. Richard Geddes No current data available.

Axel Ockenfels Geboren 1969; 1989–94 Studium der Volkswirtschaftslehre in Bonn; 1995–99 Wiss. Mitarbeiter an der Universität Magdeburg; 1996–97 Forschungsaufenthalt an der Penn State University, USA; 1998 Promotion; seit 1999 Research Fellow an der Harvard Business School, USA.