Pollution, alternative fuels, congestion, intelligent transportation systems, and
the shift from construction to maintenance all call for a reconsideration of the
existing highway revenue mechanisms, especially the gas tax. David Levinson explores
the fundamental theoretical basis of highway finance, in particular the use of
tolls, and supports that theory with empirical evidence. The author examines highway
finance from the perspective of individual jurisdictions and travellers, and
considers their interactions rather than specifying a single optimal solution.
Congestion pricing has long been a goal of transportation economists, who believe it
will result in a more efficient use of resources. Levinson argues that if the
governance were to become more decentralized, and collection costs continue to drop,
tolls could return to prominence as the preferred means of financing roads for both
local and intercity travel. An approach that creates the local winners necessary to
implement road pricing is required before it can be expected to become
Transport Economics, Management and Policy series
Subjects: economics and finance, public finance, transport, environment, transport, urban and regional studies, transport
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