The Cost of Traffic: Evidence from the London Congestion Charge

Tuesday, February 6, 2018 at 3:30pm

This is a past event.

Verna and Peter Dauterive Hall (VPD), VPD 103
635 Downey Way, Los Angeles, CA 90089

Cheng Keat Tang

Abstract: Traffic congestion is a pervasive and urgent concern for major cities around the world. In this paper, I evaluate the effectiveness of the London Congestion Charge Zone (CCZ) in alleviating congestion and subsequently utilize this sharp change in traffic conditions to measure the willingness to pay to avoid traffic. Relying on rich data on traffic flows and home prices, I compare roads and properties in close proximity but on different sides of the CCZ to mitigate neighbourhood unobservables across the boundary. My results show that homebuyers pay up to 4% more to enjoy a 10% reduction in traffic in the zone.
 
Bio: Cheng Keat Tang is a fourth year PhD student in the London School of Economics under the supervision of Professor Steve Gibbons and Professor Henry Overman. His research interests include: Urban and Housing Economics, Transportation and Economics of Crime. In particular, he is interested in evaluating the effectiveness of spatial and regional policies in achieving its intended outcomes with focus on establishing casual inference.
 
Sponsored by:
Solutions Lab for a Sustainable and Equitable Future

Event Type

Lecture / Talk / Workshop

Audience

Students, Alumni, Faculty/Staff

Campus

University Park Campus

Tags

PriceResearch

Department
Price School of Public Policy
Add this to your calendar

Recent Activity