Traffic accidents and the London congestion charge

Colin Green (), John Heywood and María Navarro Paniagua ()

No 66110088, Working Papers from Lancaster University Management School, Economics Department

Abstract: In a rare effort to internalize congestion costs, London recently instituted charges for traveling by car to the central city during peak hours. Although the theoretical influence on the number and severity of traffic accidents is ambiguous, we show that the policy generated a substantial reduction in both accidents and fatalities in the charged area and hours. At the same time, the spatial, temporal and vehicle specific nature of the charge may cause unintended substitutions as traffic and accidents shift to other proximate areas, times and to uncharged vehicles. We demonstrate that, to the contrary, the congestion charge reduced accidents and fatalities in adjacent areas, times and for uncharged vehicles. These results are consistent with the government's objective to use the congestion charge to more broadly promote public transport and change driving habits.

Keywords: Traffic Congestion; Pricing; Vehicle Accidents (search for similar items in EconPapers)
JEL-codes: H27 I18 R48 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-tre and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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Related works:
Journal Article: Traffic accidents and the London congestion charge (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:lan:wpaper:66110088

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