Richard Arnott

Richard Arnott is Distinguished Professor of Economics at the University of California, Riverside.

  • Alleviating Urban Traffic Congestion

    Alleviating Urban Traffic Congestion

    Richard Arnott, Tilmann Rave, and Ronnie Schöb

    Argues that urban transport economists should be less preoccupied with congestion pricing as the way of alleviating urban traffic congestion and should devote more of their attention to the study of policies that operate at a more microscopic scale—the scale at which urban transport policy decisions are made.

    In 2000, the average driver in US metropolitan areas endured 27 hours of traffic delays, a rise from 7 hours in 1980. In many other countries, traffic delays are considerably worse than in the United States, and in developing countries urban traffic congestion is increasing with alarming rapidity. For fifty years, economists have been advocating congestion pricing as the way to deal with urban traffic congestion; but today, even after some successes, congestion pricing is encountering considerable political resistance. The authors of Alleviating Urban Traffic Congestion advocate active consideration of more microscopic policies that attack the problem at the scale at which actual policy decisions are made. Microscopic models, rather than macroscopic models that are too simplified and too aggregated, they argue, will lead to the analysis of a wider and more creative range of policies, at least some of which should work well and be politically acceptable. After developing the themes of the book, the authors illustrate them by examining some areas of urban transport policy that have been neglected by the macroscopic approach. These include downtown parking policy, the encouragement of bicycling, the staggering of work hours by dominant employers, and the use by medium-sized cities of a "multimode" ticket that charges cars entering the city center a toll equal to the transit fare. The reorientation of urban transport analysis that they advocate will by no means eliminate traffic delays but should speed up the adoption of a richer, more flexible, and ultimately more effective set of policies to alleviate urban traffic congestion.

    • Hardcover $40.00
  • Economics for an Imperfect World

    Economics for an Imperfect World

    Essays in Honor of Joseph E. Stiglitz

    Richard Arnott, Bruce Greenwald, Ravi Kanbur, and Barry Nalebuff

    Essays by leading economic thinkers reflecting the influence of 2001 Nobel Prize winner Joseph E. Stiglitz.

    Throughout Joseph Stiglitz's long and distinguished career in economics, the focus has been on the real world, with all of its imperfections. His 2001 Nobel Prize recognized his pioneering research in imperfect information; his work in other areas, including macroeconomics, public economics, and development economics, has been just as influential. This volume, a collection of essays written to mark Stiglitz's sixtieth birthday, reflects the wide-ranging influence of "Stiglitzian" economics. The many distinguished contributors are his teachers, students, and coauthors; their participation testifies to the personal and professional impact of Joseph Stiglitz's contributions to contemporary economic thought.

    • Hardcover $63.00