The Importance Of Traffic Congestion
Introduction
Overview
Traffic congestion has become one of the plagues of modern life in a big city (Arnott & Small, 1994). It plays a significant factor in the transport system performance evaluation and affects the transport planning decisions. When a road reaches its maximum capacity, each additional vehicle imposes an additional delay on others – resulting in an economically excessive traffic volumes. This involves the rising cost of incremental delay, pollution emission and stress that resulted from the interference among the vehicles in the traffic stream.
Traffic congestion poses as a detrimental impact on the economy – namely due to its negative externality nature. Externalities are third party effects arising from the production or consumption of goods and services for which no appropriate compensation is paid.
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In a traffic congestion, the time taken in the jam could be better well spend on other important tasks. This is one of the major implicit cost of traffic congestion. Time is precious – thus being stuck in a traffic congestion may cause the consumers feeling frustrated as they are unable to reach their destination on time. Therefore, excessive traffic volumes may lower the private benefit of the
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