New York’s new congestion price seems to be lowering commuting instances on key routes (see Tyler and this thread from Michael Ostrovsky). The toll solely has two charges, nevertheless, on-peak (5 AM to 9 PM on weekdays and 9 AM to 9 PM on weekends) $9 and off-peak ($2.50). I like the way in which Vitalik Buterin defined a key weak spot:
I want the tolls had been dynamic. Worth uncertainty is best than time uncertainty (paying $10 extra right now is ok if you happen to pay $10 much less tomorrow, however you’ll be able to’t compensate being 30 min late for a flight or assembly by being 30 min early to the subsequent one).
Precisely proper. Tyler and I make the identical level about worth controls (ceilings) in Fashionable Rules. A worth ceiling substitutes a time worth for a cash worth. However this isn’t a impartial tradeoff—cash costs profit sellers, whereas time costs are pure waste (see this video for a enjoyable illustration).
Right here in Northern Virginia the toll on I-66 to Washington is dynamic and on-average varies by greater than an element of 6 throughout peak hours. Everybody complains about congestion pricing when it’s first launched however individuals get used to it shortly. Albeit in VA we nonetheless have the choice of paying no-toll which maybe eases the transition.
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