Traffic Congestion in Oxford

Paper Summary:

This paper discusses traffic congestion in Oxford, London as a form of market failure. It describes conventional congestion policies and their success or failure at eliminating congestion. It also discusses the failure of traffic planning to counter congestion. The paper then focuses on market failure in terms of traffic congestion and how the situation can be improved. The paper finally discusses the application of congestion charging. The paper contains graphs and tables.

Table of Contents:
Introduction
What is meant by Market Failure?
Cost Benefit Analysis in a Perfect Market
Cost Benefit Analysis in an External Cost Situation
Application of Congestion Charging
Analysis of Traffic Congestion
Conclusions

From the Paper:

"The London Congestion Charging is a policy that needs to be copied for the central areas of other cities including Oxford before the problem becomes even more difficult. The present charge rate for congestion parking is not the real market price but it has helped in reducing congestion in the area of operation. The present charge of L40 for 5 days for non residents and L4/week for residents of designated areas is a very moderate charge but it has resulted in reduction of traffic level by 10%. The principle aim of congestion charging was to reduce traffic levels in central London by between 10 and 15 per cent and congestion by between 20 and 30 per cent. These targets equate to billions of pounds worth of investments in capacity expansion and as we have seen the effect of road capacity expansion is short lived."

Sample of Sources Used:

• BizED, Tracking Traffic Congestion, retrieved from Internet on 2nd February 2006, http://www.bized.ac.uk/virtual/vla/transport/hint_sub_public.htm
• Department for Transport, Public Transport, retrieved from Internet on 2nd February 2006, http://www.dft.gov.uk/student/groups/dft_transstats/documents/pdf/dft_transstats-pdf_026295.pdf
• Downs, A., Still Stuck in Traffic: Coping with Peak-Hour Traffic Congestion. Brookings Institution Press, Washington, D.C., 2004.
• Dunay, A., Plater-Zyberk, E., and Speck, J., SUBURBAN NATION: The Rise of Sprawl and the Decline of the American Dream North Point Press, 2000
• Farrar, Strauss and Giroux, Suburban Nation: The Rise of Sprawl and the Decline of the American Dream, 2000

More papers on Traffic Congestion in Oxford:

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