Interpretation of the Benefits of Private transport

Interpretation of the Benefits of Private transport

This article exposes the fallibility of consumers' surplus as an index of the benefits to be derived from automobile travel. The mutual congestion of motorised traffic, displacing public transport, may give rise to misleading demands for investment in road engineering. Like Professor Vickrey, Dr. Mishan looks for a method of imputing congestion costs to the marginal private car.

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