The transport problem: the need for consistent policies on pricing and investment
File(s)JTRP2024.pdf (1.78 MB)
Published version
Author(s)
Vickerman, Roger
Type
Journal Article
Abstract
This paper reviews the basic issues involved in identifying and providing solutions to transport problems. The paper argues that solutions focusing solely on investment in capacity or second-best solutions to pricing such as road pricing and free public transport ignore the essential economic relationships involved in transport. The paper provides a critique of investment and pricing and argues for a more integrated approach in which optimal pricing is a core consideration in any investment decisions. This is seen as particularly important in a post Covid-19 world where many of the fundamental drivers of transport demand have changed, and public authorities face significant constraints on budgets whilst new pressures such as commitments to net zero in the face of global warming threats add additional pressures. The paper offers some thoughts on the principles involved in establishing a more suitable structure for dealing with the transport problem.
Date Issued
2024-04
Date Acceptance
2024-02-08
Citation
Transport Policy, 2024, 149, pp.49-58
ISSN
0967-070X
Publisher
Elsevier
Start Page
49
End Page
58
Journal / Book Title
Transport Policy
Volume
149
Copyright Statement
© 2024 The Author. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
License URL
Identifier
http://dx.doi.org/10.1016/j.tranpol.2024.02.009
Publication Status
Published
Date Publish Online
2024-02-08