Computing the cost of traffic congestion: a microsimulation exercise of the City of Antofagasta, Chile.

This paper computes the cost of traffic congestion in the city of Antofagasta in Chile. A microsimulation is implemented where all the agents of the system travel across the transport network. The congestion cost is computed through the aggregation of the opportunity cost of people waiting within the transport system, as a consequence of traffic congestion. Monte Carlo experiments produced an approximated congestion cost of US$1.02 million during a typical working day. Moreover, the simulation provides useful information about the average traveling time for the 14 districts of the city. [ABSTRACT FROM PUBLISHER]