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download (2)We all know what it is like to sit in traffic, but ever wondering how much money is wasted through lost time? An article from The Economist gives a good picture. Some research conducted by  Centre for Economics and Business Research an INRIX looked at costs of traffic jams in three ways: 1) reduced productivity, 2) higher transport costs and 3) carbon costs of fumes. Their costs estimates across four countries comes to some $200 billion. Quite a sum I think you will agree. I wonder how much of this cost relates to lost labour time – or in other words what is the opportunity cost to firms of having staff delayed in traffic. Of course, you could think of this from the view of the worked too – the opportunity cost might be at least some extra time in bed instead of the morning rush hour.