Lecturer: Alex Cardazzi (PhD)
In this course, students will learn to think like an applied microeconomist by focusing on topics related to urban transportation. First, students will be introduced to economic modeling. Students will be exposed to the monocentric city model to motivate a setting in which transportation operates. Then, students will study supply, demand, and pricing of transportation. The course concludes with a thorough discussion of externalities generated by transport and popular solutions.
Reference Texts
Brueckner, J. K. (2011). Lectures on Urban Economics. MIT Press. (JB)
Button, K. (2022). Transport Economics (4th ed.). Edward Elgar Publishing. (KB)
Supervised by: Alex Cardazzi (PhD)
Abstract
In January 2018, the Virginia Department of Transportation began tolling an 8-mile stretch of Interstate 64 (I-64) to manage traffic during peak hours. Tolls were charged westbound in the morning and eastbound in the evening. This study uses crash data from 2016 to 2019 and a Difference-in-Differences approach to examine how this tolling policy affected road safety. The analysis compares crash trends in tolled and untolled directions before and after the policy. The findings show no significant change in crash frequency during tolled westbound mornings, but a significant increase in crashes during tolled eastbound evenings. Many of these evening crashes occurred near ramps, suggesting that driver behavior around tolled areas may contribute to safety risks
Graphical Representation of Crashes before and after the tolling period. The vertical line depicts toll start date
Map of Morning and evening crashes along the tolled section of the I-64 Express Lanes