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Externality Reflected in the Value of Travel Time: Mahidol Road in Chiang Mai costs to the city hall and its citizens 9.5 million ฿/day
The loss of time and its cost in money when traveling has been researched, showing that Mahidol Road in Chiang Mai is one of the busiest roads due to the taffic congestion made by Varee School
GM
9/11/20251 min read
Varee, Montfort and its Parents: Externality for Chiang Mai.
Mahidol Road in Chiang Mai. It costs 9.5 million ฿/day for Chiang mai citizens.
Some estimates say that 114.000 cars use Mahidol Road every day.
From the aerial view, you can notice that the three lanes transform into just one during rush hours, due to the fact that the other two lanes are used exclusively for the school. Assuming that 70% of the traffic in Mahidol happens during the rush hours ( morning and afternoon) and this time links with the start and end of classes at Varee School, we can say that 70% of the traffic is affected by the drop off and pick up of kids at Varee School, which gives us a total of 79.000 cars.
Assuming the average time lost in those traffic jams is 60 minutes/day (30 minutes in one direction and 30 minutes in the other), and assuming a personal income of 20,000 Bhat/month for each driver, this leads to a value of time of 119 Bhat/hour/person. Consequently, 119B X 79,800 cars ( assuming one person per car) = 9.5 million Bhat/day, or 285 million Bhat/month.
This is the cost of Varee School Traffic jams for citizens in Chiang Mai
