(a) “Most people would agree that transportation is a ‘good thing’ which, on the whole, improves our quality of life. Ho
Posted: Sun Jul 03, 2022 6:50 am
(a) “Most people would agree that transportation is a ‘goodthing’ which, on the whole, improves our quality of life. However,transportation has a number of environmental side effects thatpeople dislike” (Hanley et al. 2001, p. 197). What arethey?
(b) Is there market failure if we do not take into account theseenvironmental-side effects? Explain.
(c) Economics can help policy makers to design policies toreduce traffic congestion. Discuss the policy options that areavailable to unjam traffic jams. Where appropriate cite examples ofcountries or cities where they have been implemented successfully.Provide evidence and discuss.
(b) Is there market failure if we do not take into account theseenvironmental-side effects? Explain.
(c) Economics can help policy makers to design policies toreduce traffic congestion. Discuss the policy options that areavailable to unjam traffic jams. Where appropriate cite examples ofcountries or cities where they have been implemented successfully.Provide evidence and discuss.