Montero, Juan-Pablo; Sepúlveda, Felipe; Basso, Leonardo J. - 2025
In September 2021, the city of Bogota' introduced a major market-based reform to its odd-even driving restriction, known as Pico y Placa. Since then, drivers have had the option to pay a daily congestion fee to be exempt from the restriction. We find t hat while the reform increased traffic, it...