A major conclusion of this study is that a significant portion of transportation costs are currently either fixed or external, and so are inefficiently priced. This price structure provides an incentive to driving more in order to “get your money's worth.” Motor vehicle travel would decline significantly if prices reflected full costs. This overuse reduces social welfare and economic efficiency.
Inefficient pricing squanders much of the potential benefits of motor vehicle travel. Vehicle owners have little incentive to limit driving to trips in which benefits exceed total costs, resulting in wasteful travel behavior that reduces transport system performance. Underpriced driving results in congestion increasing until it constrains further traffic growth. Problems such as pollution and community degradation are virtually unavoidable with current pricing. VTPI Report
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