6.1.04

CONGESTION INSURANCE. Knowledge Problem expands on an exchange between Mark Kleiman and Steve Verdon on the pros and cons of road pricing (either for the entire road or for restricted use lanes). The Knowledge Problem post is particularly useful at dealing with the misconception that toll roads are only for the rich, and improved transponder technologies are going to reduce the transaction costs of collecting tolls. For example, the Illinois Tollway Authority is now selling the I-Pass machinery in Wisconsin, for commuting Cheddar Curtain crossers.

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