This paper reviews the literature on the fiscal policy instruments commonly used to reduce transport sector externalities. The findings show that congestion charges would reduce vehicle traffic by 9 to 12 percent and significantly improve environmental quality. The vehicle tax literature...

This paper investigates the individual agent's incentive for setting Transmission Congestion Contract (TCC) magnitudes and its consequences in a POOLCO model of electric power market. TCCs do not completely solve the externality problem in an electric power market. Specifically, a TCC can have a...

This paper presents a dynamic model of road traffic congestion based on simple carfollowing theory, allowing for finite group velocity and discrete vehicles. The model offers a full-fledged dynamic version of the standard static model of road traffic congestion based on the so-called...