WHITE‐KNUCKLE EXTERNALITIES

Seiji S. C. Steimetz

Economic Inquiry, 2009, vol. 47, issue 2, 304-316

Abstract: Congestion generates travel delays and other unobservable but palpable costs, such as stress and frustration. This paper exploits a unique empirical setting to estimate these unobservable costs and the externalities that they imply. Results suggest that the size of these externalities is comparable to the size of travel delay externalities. This paper also demonstrates that common methods for estimating travel delay externalities can reasonably approximate the combined externalities of delayed travel and unobservable congestion costs. (JEL R41, R48, D62)

Date: 2009
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https://doi.org/10.1111/j.1465-7295.2008.00120.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:ecinqu:v:47:y:2009:i:2:p:304-316

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