ransit Policies Broadly be able to describe congestion pricing and how in theory it promotes social efficiency and how in practice it is implemented (London, Stockholm, Singapore). Explain why congestion pricing is politically unpopular. Be able to describe how alternative policies can relieve congestion and their relative efficacy in doing so: including carpool/HOV lanes, toll lanes, highway expansion, VMT fees and road space rationing. Be able to explain how transit subsidies can be efficiency improving just based on Mohring economies and economies of scale. Identify the political and economic realities which make public transportation subsidies unattractive. Be familiar with alternate transportation models for development/funding in Singapore and Hong Kong. These models don't rely on/use costs of pollution or other environmental concerns. Conceptually, how would incorporating those costs and concerns change the efficient level of traffic and transit system size? 4