Abstract
This chapter addresses the issue of external costs of transport and their internalisation using pricing and related instruments as a means to optimising traffic and efficient use of transport infrastructure. It starts with outlining the theoretical basis and conceptual approaches to the quantification of external costs and policy tools for their internalisation, but at the same time the attention is also paid to European and national transport policies.
Selected results on valuation of transportation noise achieved in the research project 'Quantification of external costs from transport in the Czech Republic' are demonstrated.