Law Commons^™

The Tragedy Of Urban Roads: Saving Cities From Choking, Calling On Citizens To Combat Climate Change, Christian Iaione

Fordham Urban Law Journal

This Article argues that the best response to the tragedy of road congestion has to rely on market-based regulatory techniques and public policies aimed at controlling the demand-side of transportation congestion. Among market-based regulatory techniques, economists seem to favor price-based instruments over quantity-based instruments. This Article argues instead that quantity instruments, such as tradable permits of road usage and real estate development, can better internalize all the externalities that road congestion produces. This Article also advances the idea that quantity instruments are more successful tools in addressing urban congestion for four reasons: (1) they respond better to equity concerns; (2) …