TY  - JOUR
AB  - Describes the events leading up to the imposition of the London congestion charge. Views about the congestion charge, both pro and con, are presented. Also discusses, in general terms, the economics of traffic congestion, pointing out that an unregulated market for driving will not reach the social optimum. Contains sufficient data to estimate the deadweight loss in an unregulated market and the reduction of the deadweight loss due to the imposition of the congestion charge in 2003.To provide a good illustration of how an unregulated market with negative externalities can lead to an overprovision of a good (in this case driving). Also, to show how an externality tax (in this case, London's congestion charge) can lead to an improvement in social welfare.
VL  - 
IS  - 
SN  - 2474-6568
DO  - 10.1108/case.kellogg.2016.000184
UR  - https://doi.org/10.1108/case.kellogg.2016.000184
AU  - Besanko David
AU  - Horner Johannes
AU  - Kalletta Ed
PY  - 2017
Y1  - 2017/01/01
TI  - London's Congestion Charge
T2  - Kellogg School of Management Cases
PB  - Kellogg School of Management
SP  - 1
EP  - 10
Y2  - 2024/04/25
ER  -